Ethereum Elliott Wave technical analysis [Video]
|ETH/USD Elliott Wave technical overview
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Function: Trend Following.
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Mode: Motive.
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Structure: Impulsive.
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Wave Position: Wave 3.
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Direction (next higher degree): Pending Confirmation.
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Wave invalid level: Not specified.
Ethereum – Trading strategy
Ethereum has shown a strong push in wave (3), followed by a consolidation phase forming either a running triangle or a flat correction. This suggests readiness for wave (5), potentially the last part of this bullish sequence. The third wave concluded near $2,736.32 with clear extension properties, while current movement suggests positioning within wave (4).
Trading strategies
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Main strategy:
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Short-term swing traders
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Monitor the $2,350–$2,400 range for possible price reversals.
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Risk control:
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Place stop-loss orders beneath $2,320 to protect against structure breakdown.
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ETH/USD Elliott Wave technical overview
-
Function: Trend Following.
-
Mode: Motive.
-
Structure: Impulsive.
-
Wave Position: Wave 3.
-
Direction (next higher degree): Pending Confirmation.
-
Wave invalid level: Not specified.
Ethereum – Trading strategy
Ethereum’s sharp movement in wave (3) has paused into a consolidation that looks like a running triangle or a flat formation, hinting at the build-up for wave (5). The extended wave (3) completed at $2,736.32, while wave (4) is shaping up, potentially ending soon and setting up the final bullish push.
Trading strategies
-
Main strategy:
-
Short-term swing traders
-
Focus on the $2,350–$2,400 area to gauge price movement.
-
Risk control:
-
Position stop-loss under $2,320 for safety against structural reversal.
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-
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Ethereum Elliott Wave technical analysis [Video]
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