Ethereum Elliott Wave technical analysis [Video]

ETH/USD Elliott Wave technical analysis – Day chart

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 2.

• Direction next higher degrees: Not specified.

• Wave cancel invalid level: Not specified.

ETH/USD daily trading strategy

Ethereum (ETHUSD) recently completed its Wave II correction near a major support level. A bullish reversal signal marks the start of a new upward Wave (1) trend. Currently, the price has entered a minor Wave (2) consolidation. This sets the stage for Wave 3, potentially breaking through the $2,873 resistance level in the next advance.

Recommended trading strategy

• For short-term traders (swing trade):

  • Look for buying opportunities as the price stabilizes within the Wave (2) sub-phase.

• Risk Management: Place stop-loss orders below $2,116.

ETH/USD Elliott Wave Technical Analysis – Four-hour chart

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave 2.

• Direction next higher degrees: Not specified.

• Wave cancel invalid level: Not specified.

ETH/USD four-hour trading strategy

Ethereum (ETHUSD) has finished its Wave II correction at a critical support zone and is showing signs of a bullish breakout into Wave (1). Currently, the market is retracing within a minor Wave (2) pullback, setting up for an upward extension toward Wave 3 with potential to move above $2,873.

Recommended trading strategy

• For short-term traders (swing trade):

  • Watch for entry setups during the Wave (2) consolidation.

    • Risk management: Implement stop-loss protection under $2,116.

Ethereum Elliott Wave technical analysis [Video]