Ethereum Elliott Wave technical analysis [Video]

Daily chart – ETH/USD technical analysis

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Current wave position: Wave 2.

• Wave cancel invalid level: Pending.

Technical overview

Ethereum (ETH) surged above the $2,800 mark during Wave I, showing a solid bullish impulse. Following this, price action weakened, indicating a consolidation that fits into a Wave II bearish correction scenario. As per Elliott Wave principles, if prices remain above key Fibonacci support and bullish momentum returns, a powerful Wave III may follow—potentially the strongest in this cycle.

ETHUSD trading strategy

• Short-term strategy (Swing Trade):

  • Entry zone: Wave II may offer accumulation opportunities. Look for bullish reversals from the $2,100 to $1,950 zone.

• Risk management:

  • Invalidation level: $1,385.76 – Breaching this level would nullify the current wave count and necessitate a reassessment.

Four-hour chart – ETH/USD technical analysis

• pFunction: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Current wave position: Wave 2.

• Wave cancel invalid level: Pending.

Market summary

Similar to the Daily Chart, Ethereum’s H4 structure reaffirms the transition into a Wave II correction. A potential bullish Wave III could emerge if the price structure holds above the $1,950–$2,100 region. Traders should watch this zone for confirmation signals.

Ethereum Elliott Wave technical analysis [Video]