Elliott Wave Analysis TradingLounge Daily Chart, 11 October 23
Ethereum/U.S. dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Wave Cancel invalid level: 1075.57
Details: Wave ((2)) trend move to 61.8% of wave ((1)) at 1483.10
Ethereum/U.S. dollar(ETHUSD)Trading Strategy: We are still considering the end of Wave C, retesting the 61.8% support of Wave (1) at 1483.10. Prices are still in a downtrend. But it's in the final stages of a decline, so waiting for Logic to buy is probably a better idea.
Ethereum/U.S. dollar(ETHUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish Momentum.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: Tradinglounge.com get a trial here!
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Elliott Wave Analysis TradingLounge 4H Chart, 11 October 23
Ethereum/U.S. dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Wave Cancel invalid level: 1075.57
Details: Wave ((2)) trend move to 61.8% of wave ((1)) at 1483.10
Ethereum/U.S. dollar(ETHUSD)Trading Strategy: We are still considering the end of Wave C, retesting the 61.8% support of Wave (1) at 1483.10. Prices are still in a downtrend. But it's in the final stages of a decline, so waiting for Logic to buy is probably a better idea.
Ethereum/U.S. dollar(ETHUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish Momentum.
