ETH/USD Elliott Wave: Forming the ((c)) leg of a potential zig-zag pattern
|In this technical article, we are going to present another Elliott Wave charts of Ethereum ETHUSD. The crypto ended cycle from the 2104.3 peak and now correcting it. In the following sections, we will delve into the specifics of the Elliott Wave pattern.
ETH/USD Elliott Wave one hour chart 04.18.2025
The current analysis suggests that ETHUSD is forming a wave 2 red recovery. The correction is incomplete at the moment, we expect another leg up. As far as the price stays above 1537.8 low toward 1775 -1847 area.
ETH/USD Elliott Wave one hour chart 04.22.2025
The crypto held above the 1537.8 low and continued to rally, as expected. The price is ideally heading toward our first target area at 1775. We do not recommend selling the crypto at this time. However, keep in mind that the cycle from the December 2024 peak still appears incomplete. Therefore, as long as the 2105 pivot holds, further downside could follow once the current correction is complete.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.