Elliott Wave Analysis TradingLounge Daily Chart, Wednesday, June 21

Pixabay

Ethereum/U.S. Dollar (ETH-X)

ETHUSD Elliott Wave Technical Analysis

Function: Reactionary (Counter Trend)

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next higher Degrees: Wave II of Motive

Details: Wave II may have ended at the level of 6.97. Five waves of rise will support this idea.

Wave Cancel invalid Level: 5.91

Ethereum/U.S. Dollar (ETHUSD)Trading Strategy: Ethereum Wave ((2)) is likely to end at the 1620.15 level, which is enough to reverse Wave((2)) in line with a rebound through the MA200, making our predictions. five-wave movement to support this concept And it could be the start of a new uptrend.

Ethereum/U.S. Dollar (ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 21 June 23,  

Ethereum/U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Follow Trend

Structure: Motive

Position: Wave 2

Direction Next higher Degrees: Wave (1) of Motive

Details: Wave 2 reversal has a probability of .618 x length Wave ((1)).

Wave Cancel invalid Level: 6.95

Ethereum/U.S. Dollar (ETHUSD)Trading Strategy: Ethereum Wave ((2)) is likely to end at the 1620.15 level, which is enough to reverse Wave((2)) in line with a rebound through the MA200, making our predictions. five-wave movement to support this concept And it could be the start of a new uptrend.

Ethereum/U.S. Dollar (ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum.

More By This Author:

Elliott Wave Technical Analysis: NEO, Tuesday, June 20
Elliott Wave Technical Analysis: DexCom Inc, June 20
Bitcoin's Bounce Off 25K Looks Positive