Ethereum Elliott Wave technical analysis [Video]
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Ethereum/ U.S. dollar(ETHUSD).
ETH/USD Elliott Wave technical analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction next higher degrees: Wave II
Details: ETH appears to be in the final stages of Wave II, which is subdividing into an “ABC” correction. Wave (C) is in progress, with a potential downside target near the 0.618 Fibonacci retracement level ($2,891.52).
Ethereum/ U.S. dollar (ETHUSD) Trading Strategy: ETH is likely heading toward the $2,891–$2,829 support zone to complete its Wave II correction. A reversal in this area would indicate the start of Wave III and a resumption of the bullish trend.
Holding above $2,891 is critical to maintaining the integrity of the wave structure and avoiding an extended correction. A break above $3,600 would confirm the end of the correction and the start of a new impulsive wave.
ETH/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave C.
Direction next higher degrees: Wave II.
Details: ETH appears to be in the final stages of Wave II, which is subdividing into an “ABC” correction. Wave (C) is in progress, with a potential downside target near the 0.618 Fibonacci retracement level ($2,891.52).
Ethereum/ U.S. dollar (ETHUSD) Trading Strategy: ETH is likely heading toward the $2,891–$2,829 support zone to complete its Wave II correction. A reversal in this area would indicate the start of Wave III and a resumption of the bullish trend.
Holding above $2,891 is critical to maintaining the integrity of the wave structure and avoiding an extended correction. A break above $3,600 would confirm theend of the correction and the start of a new impulsive wave.
Ethereum Elliott Wave technical analysis [Video]
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