Elliott Wave Technical Analysis: Ethereum - Thursday, Oct. 27
Elliott Wave Analysis TradingLounge Daily Chart, October 27, 2022
Ethereum (ETH-X)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: Sub-wave of Wave (1)
Details: The increment of wave 3 is usually 2.618 x wave 1.
Wave Cancel invalid Level: 1346
Ethereum (ETHUSD) Trading Strategy: The rise of Wave 3 Extension, usually 2.618 x
wave 1, tends to coincide with the MA200 line, a key resistance that may give short-term throwback prices.
Ethereum (ETHUSD) Technical Indicators: MACD and MACD Histogram above
Zero-Line, The price Bullish momentum.
Tradinglounge analyst : Kittiampon Somboonsod
Ethereum (ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: Sub-wave of Wave (1)
Details: The increment of wave 3 is usually 2.618 x wave 1.
Wave Cancel invalid Level: 1346
Ethereum (ETHUSD) Trading Strategy: The rise of Wave 3 Extension, usually 2.618 x wave 1, At the end, the price reverses again in wave 4 and rises again in wave 5. This could be a short-term trading opportunity in an uptrend.
Ethereum (ETHUSD) Technical Indicators: MACD and MACD Histogram above Zero-Line, The price Bullish momentum.
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