Ethereum (ETHUSD) Elliott Wave Analysis – Daily Chart by TradingLounge
ETHUSD Elliott Wave Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Invalidation Level: Not specified
Ethereum’s price surged throughout May, peaking at $2,790. Based on the current Elliott Wave count, this rally completes Wave I and initiates Wave II, a corrective phase. Typically, Wave II corrections are deeper and more prolonged compared to previous impulse movements, aligning with standard Elliott Wave behavior.
Ethereum (ETHUSD) Trading Plan – Daily Chart Overview
- ✅ Swing Trading Opportunity (Short-Term Outlook)
Watch closely for potential bullish reversals within the $1,830–$2,000 support zone. Confirm trade setups by identifying strong buying volume or bullish candlestick patterns.
- 🟥 Risk Control Guidelines
Suggested stop-loss point has not been defined and should be determined based on intraday volatility and support levels.
ETHUSD Elliott Wave Forecast – 4-Hour Chart by TradingLounge
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Invalidation Level: Not specified
The 4-hour chart confirms the broader daily Elliott Wave outlook. The drop from the $2,790 high outlines a clear Wave II structure, pointing to continued corrective action. This setup presents short-term swing trade opportunities as the price targets the $1,830–$2,000 support range.
Ethereum (ETHUSD) Short-Term Strategy – 4H Chart Focus
Identify potential entry points by monitoring for bullish price action within the $1,830–$2,000 zone. Confirmation should come from volume increases or reversal candlestick formations.
- 🟥 Risk Management Strategy
No predefined stop-loss level is provided. Adjust stop-loss according to support benchmarks and market volatility.
Technical Analyst: Malik Awais
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