In this article we’re going to take a quick look at the Elliott Wave charts of Ethereum published in members area of the website. As our members know ETHUSD is trading within the cycle from the June 2022 low. Consequently we expect to see more short term strength. Recently Ethereum made a pull back that has reached target area and found buyers as expected. In the further text we are going to explain the Elliott Wave Forecast.
ETH/USD Elliott Wave 1 hour chart 01.24.2023
Ethereum is showing impulsive bullish sequences in the cycle from the November 2022 low. Consequently we expect to see a further rally. Currently Ethereum is doing wave ((iv)) pull back which still looks incomplete at the moment. Pull back is shallow so far, so we assume ETHUSD ended only first leg (w) of ((iv)) that is unfolding as potential double three pattern. We believe Wave (y) blue is still in progress toward 1549-1491 area. Buyers should ideally appear at the marked zone for the further rally toward new high ideally or for a 3 waves bounce at least.
ETH/USD Elliott Wave 1 hour chart 01.26.2023
Pull back reached our target zone at 1549-14914 (equal legs : buyers area). Ethereum found buyers at that zone and we are getting very good reaction from there. Rally made enough separation from the lows. As a result, any longs from there should be risk free already and partial profit taken. Wave ((iv)) looks to be completed at 1516.2 low . Now, we should be ideally trading within wave ((v)) toward 1719+ area.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Follow us on Telegram
Stay updated of all the news
This is how XRP whales and the Ripple community set the altcoin up for a 20% rally
XRP price took the entire crypto market by surprise after the massive spike observed on March 19. The single-day increase was the biggest rise noted by the altcoin since September 2022, which set investors scrambling as they tried to make the most of it.
Optimism Price Forecast: Could the Arbitrum airdrop send OP 12% south as market rival makes headlines?
Optimism price (OP) has been moving horizontally within a fixed supplier congestion zone and could break out soon. The expected trajectory for OP comes amid an alt season with rival Ethereum Layer 2 (L2) token Arbitrum holding its airdrop event.
Here is what you can expect from Arbitrum price after major exchanges list ARB
Binance, Coinbase, Bybit, and Huobi crypto exchanges, among others, have confirmed plans to list Arbitrum ARB token ahead of Thursday's airdrop. After the airdrop, users will be able to trade ARB/BTC and ARB/USDT pairs.
SEC issues alert, states crypto service providers may not be complying with US laws
The crypto market has been in the crosshairs of the Securities and Exchange Commission (SEC) for a while now. The lack of clear regulations and the recent collapse of crypto companies and tokens has increased concerns among investors.
Weekly Recap: Bank runs, stablecoin drama, Voyager bankruptcy hearing, threat to DOX Shiba Inu founder
US bank runs sent shockwaves through market participants, traders turned to Bitcoin and the “safe haven” narrative made a comeback. Binance’s $1 billion acquisition of bankrupt crypto lender Voyager is back on track with a ruling from a New York bankruptcy judge.