Elliott Wave Analysis TradingLounge Daily Chart, March 15

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

ETHUSD Elliott Wave Technical Analysis 

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (I) of Motive

Details: Wave 3 equals 1.618 multiplied Length of wave 1 at 2943.53

Wave Cancel invalid level: 1073.42

Ethereum/U.S. Dollar (ETHUSD)Trading Strategy: Ethereum price is back above the MA200 line, with the third wave price structure, we are forecasting a rise above the 2031 level and possibly counting towards the 2943 level, which is the length of the first wave multiplied by 1.618.

Ethereum/U.S. Dollar (ETHUSD)Technical Indicators: The price is above the MA200 indicating an up trend. The wave oscillators above Zero-Line momentum are bullish.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, March 15

Ethereum/U.S. Dollar (ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (1)

Direction Next higher Degrees: wave ((3)) of Motive

Details: Wave (1) seems to have ended at the level of 1787.74, and the price has corrected in wave (2) before rising again.

Wave Cancel invalid level: 1369

Ethereum/U.S. Dollar (ETHUSD)Trading Strategy: Wave (1) appears to end at the 1787.74 level, leaving us looking for a retracement in wave (2) where the relationship with wave (1) is multiplied by 61.8 before rising again.

Ethereum/U.S. Dollar (ETHUSD)Technical Indicators: The price is above the MA200 indicating an up trend. The wave oscillators above Zero-Line momentum are bullish.

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