ETHE Elliott Wave technical analysis
Function: Major Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 3.
Direction: Uptrend.
Details:
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Wave 3 is in progress and currently in its early stage, following the completion of a regular flat Wave 2.
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This indicates the start of the strongest segment within an impulsive wave.
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A breakout to new all-time highs is anticipated.
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Invalidation Level: $12.25.
Function: Major Trend (Minor Degree – Grey).
Mode: Motive.
Structure: Impulse.
Position: Wave [5] of i.
Direction: Rally.
Details:
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Wave [4] of i appears complete; one final upward movement is expected to finish Wave i.
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Wave i is projected to terminate near the $26.00 mark, after which Wave ii is expected to start.
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Traders are advised to wait patiently through Wave ii to prepare a trading plan for the next rally.
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Invalidation Level: $12.25
Conclusion
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ETHE has entered Wave 3, typically the strongest and most extended wave within an impulse.
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Wave i is likely to end around the $26.00 level, after which Wave ii should begin.
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This is an ideal time to prepare trading strategies for the upcoming impulse.
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Traders must closely adhere to Elliott Wave guidelines and monitor the invalidation level to reduce risks and avoid losses.
Technical Analyst: Simon Brooks.
ETHE Elliott Wave technical analysis [Video]
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