Ethereum Elliott Wave technical analysis [Video]
|ETH/USD Elliott Wave technical analysis – Day chart
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 2.
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Direction next higher degrees: Not specified.
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Wave cancel invalid level: Not specified.
ETH/USD daily trading strategy
Ethereum (ETHUSD) recently completed its Wave II correction near a major support level. A bullish reversal signal marks the start of a new upward Wave (1) trend. Currently, the price has entered a minor Wave (2) consolidation. This sets the stage for Wave 3, potentially breaking through the $2,873 resistance level in the next advance.
Recommended trading strategy
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For short-term traders (swing trade):
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Look for buying opportunities as the price stabilizes within the Wave (2) sub-phase.
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Risk Management: Place stop-loss orders below $2,116.
ETH/USD Elliott Wave Technical Analysis – Four-hour chart
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave 2.
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Direction next higher degrees: Not specified.
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Wave cancel invalid level: Not specified.
ETH/USD four-hour trading strategy
Ethereum (ETHUSD) has finished its Wave II correction at a critical support zone and is showing signs of a bullish breakout into Wave (1). Currently, the market is retracing within a minor Wave (2) pullback, setting up for an upward extension toward Wave 3 with potential to move above $2,873.
Recommended trading strategy
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For short-term traders (swing trade):
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Watch for entry setups during the Wave (2) consolidation.
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Risk management: Implement stop-loss protection under $2,116.
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Ethereum Elliott Wave technical analysis [Video]
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