Image Source: Pixabay

Elliott Wave Analysis TradingLounge Daily Chart, 7 March 2024,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave (3)

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

Wave Cancel invalid level:

Details: The Rise of the Impulse Wave We still miss two more moves to complete the pattern.

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:

Ethereum is still in its Wave 3 rally, with two more moves needed to complete the Impulse pattern: a Wave 4 decline and a subsequent Wave 5 rally. Therefore, Ethereum remains bullish overall and is in a continuous upward trend.

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Source: Tradinglounge.com

Elliott Wave Analysis TradingLounge 4Hr Chart, 7 March 24,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((5))

Direction Next higher Degrees: wave 1 of Impulse

Wave Cancel invalid level:

Details: The Rise of the Impulse Wave We still need two more moves to complete the pattern.

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:

Ethereum is still in its Wave 3 rally, with two more moves needed to complete the Impulse pattern: a Wave 4 decline and a subsequent Wave 5 rally. Therefore, Ethereum remains bullish overall and is in a continuous upward trend.

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.

More By This Author:

Elliott Wave Technical Analysis: The Coca-Cola Company - Wednesday, March 6
Elliott Wave Technical Analysis: Wheat - Wednesday, March 6
Elliott Wave Technical Analysis: USDJPY - Wednesday, March 6