Elliott Wave Analysis TradingLounge Daily Chart, November 3, 2022

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Ethereum (ETH-X)

ETHUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (4)

Direction Next higher Degrees: Sub-wave of Wave ((1))

Details: Wave 4 subs within the first wave. Usually reversed equally to .382 x length wave3.

Wave Cancel invalid Level: 1346

Ethereum (ETHUSD) Trading Strategy: Wave 4 may end and the price tends to rise on wave 5, wave 5 is usually .618 x wave1 past wave 3 at the 1795 level. This could be a short-term trading opportunity. But be careful with the 200 MA line which is an important resistance. If the test fails, the price may reverse again.

Ethereum (ETHUSD) Technical Indicators: MACD and MACD Histogram above Zero-Line the price have bullish momentum.

Technical analyst : Kittiampon Somboonsod

Ethereum (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (4)

Direction Next higher Degrees: Sub-wave of Wave ((1))

Details: Wave 4 subs within the first wave. Usually reversed equally to .382 x length wave3.

Wave Cancel invalid Level: 1346

Ethereum (ETHUSD) Trading Strategy: Wave 4 may end and the price tends to rise on wave 5, wave 5 is usually .618 x wave1 past wave 3 at the 1795 level. This could be a short-term trading opportunity.

Ethereum (ETHUSD) Technical Indicators: MACD has a Hidden Bullish divergence and MACD Histogram has a Bullish divergence the price reverse to uptrend.

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