Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave Technical Analysis

Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave Technical Analysis

Function: Major Trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction: Uptrend

Details:

Wave 3 is in progress and currently in its early stage, following the completion of a regular flat Wave 2.
This indicates the start of the strongest segment within an impulsive wave.
A breakout to new all-time highs is anticipated.
Invalidation Level: $12.25

Hourly Chart (4H Analysis)

Function: Major Trend (Minor Degree – Grey)
Mode: Motive
Structure: Impulse
Position: Wave [5] of i
Direction: Rally

Details:

Wave [4] of i appears complete; one final upward movement is expected to finish Wave i.
Wave i is projected to terminate near the $26.00 mark, after which Wave ii is expected to start.
Traders are advised to wait patiently through Wave ii to prepare a trading plan for the next rally.
Invalidation Level: $12.25

Conclusion

ETHE has entered Wave 3, typically the strongest and most extended wave within an impulse.
Wave i is likely to end around the $26.00 level, after which Wave ii should begin.
This is an ideal time to prepare trading strategies for the upcoming impulse.
Traders must closely adhere to Elliott Wave guidelines and monitor the invalidation level to reduce risks and avoid losses.

Technical Analyst: Simon Brooks

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