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Ethereum Price Analysis: ETH/USD is following the Elliott Wave Harmonic patterns

  • Ethereum is trading 0.14% higher on Monday as the other majors have an off day.
  • The ETH/USD pair is following the Elliott Wave patterns pretty well at the moment.
Ethereum Price Analysis: ETH/USD is following the Elliott Wave Harmonic patterns
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

ETH/USD 60-Minute Chart

Below is the 60-minute chart for ETH/USD and it seems it's falling in line with the Fibs.

As you can see from the formation of the black lines the wave formation looks like it falls into the Eliott Wave sequence.

That would be a 5 wave pattern which follows the laws of Fibonacci.

Even the wave pattern on the retracement has a nice 5 wave pattern.

We have a nice Elliott Wave explainer if you would like more information on how it works (click here).

For the pattern to confirm to the upside a break of 263.85 will be needed, so now this is the level to watch.

Ethereum Elliott waves

Additional Levels

ETH/USD

Overview
Today last price259.03
Today Daily Change0.27
Today Daily Change %0.10
Today daily open258.76
 
Trends
Daily SMA20218.02
Daily SMA50177.84
Daily SMA100165.01
Daily SMA200177.04
 
Levels
Previous Daily High273.8
Previous Daily Low237.24
Previous Weekly High287.42
Previous Weekly Low216.5
Previous Monthly High186.73
Previous Monthly Low125.81
Daily Fibonacci 38.2%251.2
Daily Fibonacci 61.8%259.83
Daily Pivot Point S1239.4
Daily Pivot Point S2220.04
Daily Pivot Point S3202.84
Daily Pivot Point R1275.96
Daily Pivot Point R2293.16
Daily Pivot Point R3312.52

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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