Elliott Wave Technical Analysis: Ethereum Crypto Price News For Friday, June 27
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Elliott Wave Analysis – Ethereum (ETHUSD) – TradingLounge – Daily Chart
ETHUSD Elliott Wave Technical Analysis
- Function: Follow Trend
- Mode: Motive
- Structure: Impulse
- Position: Wave 2
- Direction (Next Higher Degrees): –
- Wave Cancel/Invalidation Level: –
Ethereum (ETHUSD) Trading Strategy
Ethereum (ETHUSD) is showing a clear Elliott Wave pattern. After finishing wave I at 2,873.50, the price has entered wave II, a corrective phase meant to build strength for the anticipated wave III uptrend. The target retracement zone for wave II is between the Fibonacci 0.5 to 0.618 levels, ranging from 2,295 to 2,250 USD. A breakout above 2,873.50 would confirm the start of a potential wave III rally.
Trading Strategies
- Strategy Type: Swing Trade (Short-Term Traders)
-
- ✅ Monitor for price consolidation within the 2,295–2,250 zone as a signal to buy for wave III
- 🟥 Risk Management: Place Stop Loss below 2,060 USD to manage downside risk
Elliott Wave Analysis – Ethereum (ETHUSD) – TradingLounge – H4 Chart
ETHUSD Elliott Wave Technical Analysis
- Function: Follow Trend
- Mode: Motive
- Structure: Impulse
- Position: Wave 2
- Direction (Next Higher Degrees): –
- Wave Cancel/Invalidation Level: –
Ethereum (ETHUSD) Trading Strategy
The H4 chart also confirms the larger wave structure. Ethereum remains in wave II, targeting the retracement zone of 2,295 – 2,250 USD. A sustained move above 2,873.50 would signal the beginning of a stronger upward move, indicating wave III development.
Trading Strategies
- Strategy Type: Swing Trade (Short-Term Traders)
-
- ✅ Look for price basing within the target range to initiate entries for wave III
- 🟥 Risk Management: Stop Loss advised below 2,060 USD
Technical Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com
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This Elliott Wave analysis on Ethereum is quite insightful, especially for traders watching the wave II retracement between $2,295 and $2,250. If price action consolidates in this zone, it could offer a great buying opportunity for a potential wave III breakout above $2,873.50. Managing risk with a stop loss below $2,060 is a prudent approach.