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Elliott Wave Analysis | TradingLounge Daily Chart

Instrument: Ethereum / U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 2
• Direction Next Higher Degrees: Not specified
• Wave Cancel Invalid Level: Not specified

ETHUSD Daily Trading Strategy

Ethereum (ETHUSD) recently completed its Wave II correction near a major support level. A bullish reversal signal marks the start of a new upward Wave (1) trend. Currently, the price has entered a minor Wave (2) consolidation. This sets the stage for Wave 3, potentially breaking through the $2,873 resistance level in the next advance.

Recommended Trading Strategy

• For Short-Term Traders (Swing Trade):
• • ✅ Look for buying opportunities as the price stabilizes within the Wave (2) sub-phase.
  • 🟥 Risk Management: Place stop-loss orders below $2,116.

Elliott Wave Analysis | TradingLounge H4 Chart

Instrument: Ethereum / U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Position: Wave 2
• Direction Next Higher Degrees: Not specified
• Wave Cancel Invalid Level: Not specified

ETHUSD H4 Trading Strategy

Ethereum (ETHUSD) has finished its Wave II correction at a critical support zone and is showing signs of a bullish breakout into Wave (1). Currently, the market is retracing within a minor Wave (2) pullback, setting up for an upward extension toward Wave 3 with potential to move above $2,873.

Recommended Trading Strategy

• For Short-Term Traders (Swing Trade):
• • ✅ Watch for entry setups during the Wave (2) consolidation.
  • 🟥 Risk Management: Implement stop-loss protection under $2,116.

Technical Analyst: Kittiampon Somboonsod, CEWA
Visit: TradingLounge.com for expert insights

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