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Elliott Wave Analysis TradingLounge Daily Chart

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

position: Wave C

Direction Next higher Degrees: wave II

Wave Cancel invalid level:

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:
ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.

Trading strategies

* Buy Strategy (Long Position):

   * If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.

* Risk Management:

   * If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.

Elliott Wave Analysis TradingLounge 4hr Chart

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

position: Wave C

Direction Next higher Degrees: wave II

Wave Cancel invalid level:

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:
ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.

Trading strategies

* Buy Strategy (Long Position):

   * If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.

* Risk Management:

   * If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.

Technical Analyst: Kittiampon Somboonsod

Source: TradingLounge.com

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