Ethereum Elliott Wave technical analysis [Video]

Elliott Wave analysis TradingLounge

ETH/USD Elliott Wave technical analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction Next higher Degrees: Wave II

Ethereum/ US Dollar (ETHUSD) trading strategy: ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.

Trading strategies

Buy strategy (long position):

• If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.

Risk management:

• If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.

ETH/USD Elliott Wave technical analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction next higher degrees: Wave II

Ethereum/ US Dollar (ETH/USD) trading strategy: ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.

Trading strategies

Buy strategy (long position):

• If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.

Risk management:

• If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.

Ethereum Elliott Wave technical analysis [Video]