Ethereum Elliott Wave technical analysis [Video]

ETH/USD – Elliott Wave technical analysis

Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 3.
Direction next higher degrees: -
Wave cancel invalid level: $2,250.

ETH/USD trading strategy

Ethereum surged past $2,600 after completing wave 2 (ABC correction) at $1,541. The cryptocurrency now shows strong momentum in wave 3. Current price action suggests a consolidation phase before initiating wave 5, with upside targets above $3,000.

Trading strategies:

Strategy

• For swing traders (short-term): Monitor the $2,290–$2,300 zone for bullish reversal patterns (e.g., engulfing candles) to enter long positions.

Risk management

• Place stop-loss orders below $2,250 to protect against invalidations.
• Take-profit targets: $3,000+ during wave 5 progression.

ETH/USD – Elliott Wave technical analysis

Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave 3.
Direction next higher degrees: -
Wave cancel invalid level: $2,250.

ETH/USD trading strategy

The 4-hour chart confirms ETH's bullish structure. After breaking above $2,600, wave 3 is approaching completion. A brief consolidation in wave 4 is expected before wave 5 targets the $3,000+ zone.

Trading strategies:

Strategy

• For swing traders (short-term): Enter long positions on confirmed bullish reversals between $2,290–$2,300.

Risk management

• Invalidation occurs below $2,250 – exit all long positions if breached.

ETH/USD – Elliott Wave technical analysis [Video]