Elliott Wave Analysis: Ethereum
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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