Elliott Wave Technical Analysis: Ethereum - Thursday, Oct. 27

Elliott Wave Analysis TradingLounge Daily Chart, October 27, 2022

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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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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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