Ethereum Elliott Wave technical analysis [Video]
|Daily chart – ETH/USD technical analysis
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Current wave position: Wave 2.
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Wave cancel invalid level: Pending.
Technical overview
Ethereum (ETH) surged above the $2,800 mark during Wave I, showing a solid bullish impulse. Following this, price action weakened, indicating a consolidation that fits into a Wave II bearish correction scenario. As per Elliott Wave principles, if prices remain above key Fibonacci support and bullish momentum returns, a powerful Wave III may follow—potentially the strongest in this cycle.
ETHUSD trading strategy
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Short-term strategy (Swing Trade):
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Entry zone: Wave II may offer accumulation opportunities. Look for bullish reversals from the $2,100 to $1,950 zone.
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Risk management:
- Invalidation level: $1,385.76 – Breaching this level would nullify the current wave count and necessitate a reassessment.
Four-hour chart – ETH/USD technical analysis
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pFunction: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Current wave position: Wave 2.
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Wave cancel invalid level: Pending.
Market summary
Similar to the Daily Chart, Ethereum’s H4 structure reaffirms the transition into a Wave II correction. A potential bullish Wave III could emerge if the price structure holds above the $1,950–$2,100 region. Traders should watch this zone for confirmation signals.
Ethereum Elliott Wave technical analysis [Video]
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