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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 5

• Direction (Next Higher Degrees):

• Wave Cancel/Invalidation Level:

Ethereum / U.S. Dollar (ETHUSD) – Trading Strategy:
 

Ethereum continues to move within a bearish Wave C structure, part of a broader Zigzag correction pattern. The current decline is within sub-wave (5), which is in progress and may be nearing completion. Ethereum is presently developing sub-wave (3) of wave (5). A short-term upward correction in wave (4) is anticipated before the final leg down completes wave (5).

Trading Strategies:
 

• Strategy:

  • ✅ For short-term traders (Swing Trade):

    • Consider long positions once buying pressure and a bullish signal appear near the $1,470 support area.

• Risk Management

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 5

• Direction (Next Higher Degrees):

• Wave Cancel/Invalidation Level:

Ethereum / U.S. Dollar (ETHUSD) – Trading Strategy:
 

Ethereum remains in a downward wave C movement within a larger Zigzag correction pattern. Sub-wave (5) of this move is still forming and could finish soon. It is currently in sub-wave (3) of (5). A brief upward correction in wave (4) is expected before the final drop concludes wave (5).

Trading Strategies:
 

• Strategy:

  • ✅ For short-term traders (Swing Trade):

    • Watch for bullish confirmation and increased buying activity around $1,470 to consider long entries.

• Risk Management:

  • (No details provided)

TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com

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