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Elliott Wave Analysis | TradingLounge Daily Chart | Ethereum/U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next Higher Degrees:

Wave Cancel Invalid Level:

Ethereum/U.S. Dollar (ETHUSD) Trading Strategy:
ETHUSD advancing in Wave (3); consolidation expected before Wave (5) with targets above $3000
Ethereum surged past the $2600 mark after completing Wave (2) at $1541 with an ABC corrective formation. The cryptocurrency has entered a strong Wave (3) impulsive rally. Currently, ETHUSD appears to be nearing the end of Wave (3) and is showing signs of entering a consolidation phase before initiating the final upward leg, Wave (5).

Trading Strategies

Strategy:

✅ Short-term Traders (Swing Trading):

Monitor price action as it approaches the $2,290–$2,300 range. Look for reversal signals like a bullish engulfing candlestick or a long wick near support. This signals a potential entry for long accumulation.

Risk Management:

🟥 Place a stop-loss below $2,250 and set profit targets above $3,000, aligning with the anticipated Wave (5).

Elliott Wave Analysis | TradingLounge H4 Chart | Ethereum/U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next Higher Degrees:

Wave Cancel Invalid Level:

Ethereum/U.S. Dollar (ETHUSD) Trading Strategy:
ETHUSD advancing in Wave (3); consolidation expected before Wave (5) with targets above $3000
Ethereum surged past the $2600 mark after completing Wave (2) at $1541 with an ABC corrective formation. The cryptocurrency has entered a strong Wave (3) impulsive rally. Currently, ETHUSD appears to be nearing the end of Wave (3) and is showing signs of entering a consolidation phase before initiating the final upward leg, Wave (5).

Trading Strategies

Strategy:

✅ Short-term Traders (Swing Trading):

Monitor price action as it approaches the $2,290–$2,300 range. Look for reversal signals like a bullish engulfing candlestick or a long wick near support. This signals a potential entry for long accumulation.

Risk Management:

🟥 Place a stop-loss below $2,250 and set profit targets above $3,000, aligning with the anticipated Wave (5).

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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