Elliott Wave Analysis: Ethereum

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Aug 15, 2022 at 11:44 AM EDT

Price is completing five moves in a Motive wave with significant resistance at MA200 or price target wave ((5)) at the 2123 level.

Elliott Wave Analysis TradingLounge Daily Chart, 15 August 2022, Ethereum(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave I
Direction Next higher Degrees: Impulse wave (V) Details: The first wave may be nearing its end and the price reverses. back in the second wave
Wave Cancel invalid Level:

Ethereum(ETHUSD) Trading Strategy: Price is completing five moves in a Motive wave with significant resistance at MA200 or price target wave ((5)) at 2123 level. Watch out for a reversal in the second wave by a larger degree.

Ethereum(ETHUSD) Indicators: The RSI is in the Overbought Zone.

TradingLounge Analyst: Kittiampon Somboonsod

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 15 August 2022, Ethereum(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Direction Next higher Degrees: Impulse wave I Details: The first wave may be nearing its end and the price reverses.

back in the second wave
Wave Cancel invalid Level:
Ethereum(ETHUSD) Trading Strategy: Price is completing five moves in a Motive wave with significant resistance at MA200 or price target wave ((5)) at 2123 level. Watch out for a reversal in the second wave by a larger degree.

Ethereum(ETHUSD) Technical Indicators: MACD has positive momentum, and short-term prices may rise.

(Click on image to enlarge)

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