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Elliott Wave Analysis TradingLounge Daily Chart, 17 November 23,

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 (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in Wave (1) appears to have ended at the level of 2136.53, and the price is entering a period of correction in Wave (2), where the retracement of Wave (2) is usually 0.50 or 0.618 x the length of Wave (1). Therefore, Ethereum's outlook remains bullish. The retracement is only a short-term rally to continue Wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source : Tradinglounge.com

Elliott Wave Analysis TradingLounge 4H Chart, 17 November 23,

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 (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in Wave (1) appears to have ended at the level of 2136.53, and the price is entering a period of correction in Wave (2), where the retracement of Wave (2) is usually 0.50 or 0.618 x the length of Wave (1). Therefore, Ethereum's outlook remains bullish. The retracement is only a short-term rally to continue Wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bearish Momentum.

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