ETH/USD Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

ETH/USD Elliott Wave technical analysis

Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 2.
Direction (Next higher degrees): –
Wave cancel/invalidation level: –

Ethereum (ETH/USD) trading strategy

Ethereum (ETHUSD) is showing a clear Elliott Wave pattern. After finishing wave I at 2,873.50, the price has entered wave II, a corrective phase meant to build strength for the anticipated wave III uptrend. The target retracement zone for wave II is between the Fibonacci 0.5 to 0.618 levels, ranging from 2,295 to 2,250 USD. A breakout above 2,873.50 would confirm the start of a potential wave III rally.

Trading strategies

Strategy Type: Swing Trade (Short-Term Traders).
- Monitor for price consolidation within the 2,295–2,250 zone as a signal to buy for wave III.
- Risk Management: Place Stop Loss below 2,060 USD to manage downside risk.

ETH/USD Elliott Wave technical analysis

Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 2.
Direction (Next Higher Degrees): –
Wave Cancel/Invalidation Level: –

Ethereum (ETH/USD) Trading Strategy

The H4 chart also confirms the larger wave structure. Ethereum remains in wave II, targeting the retracement zone of 2,295 – 2,250 USD. A sustained move above 2,873.50 would signal the beginning of a stronger upward move, indicating wave III development.

Trading Strategies

Strategy Type: Swing Trade (Short-Term Traders).
- Look for price basing within the target range to initiate entries for wave III.
- Risk Management: Stop Loss advised below 2,060 USD.