Ethereum / U.S. Dollar (ETHUSD) Elliott Wave Analysis | TradingLounge Daily Chart
ETHUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Not specified
Wave Cancel Invalid Level: Not specified
ETHUSD Daily Trading Strategy
Ethereum (ETHUSD) has finalized its Wave II correction, rebounding from a significant support level. A bullish trend initiation marks the early stage of a new upward Wave (1) sequence. At present, ETHUSD is undergoing a minor Wave (2) pullback, creating potential for a Wave 3 breakout that could surpass the $2,873 resistance mark.
Recommended Trading Strategy
For Short-Term Traders (Swing Trade):
✅ Identify long positions as ETHUSD stabilizes during the Wave (2) retracement.
🟥 Risk Management: Set stop-loss orders slightly below $2,116 to manage downside risk.
Ethereum / U.S. Dollar (ETHUSD) Elliott Wave Analysis | TradingLounge H4 Chart
ETHUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 2
Direction Next Higher Degrees: Not specified
Wave Cancel Invalid Level: Not specified
ETHUSD H4 Trading Strategy
Ethereum (ETHUSD) completed Wave II near a crucial support zone and is currently exhibiting bullish momentum, signaling the onset of Wave (1). Presently, ETHUSD is experiencing a brief Wave (2) correction, preparing for a Wave 3 extension that may aim beyond the $2,873 resistance level.
Recommended Trading Strategy
For Short-Term Traders (Swing Trade):
✅ Monitor price action for buy signals during the ongoing Wave (2) setup.
🟥 Risk Management: Use stop-loss placements beneath the $2,116 level to protect trades.
Technical Analyst: Kittiampon Somboonsod, CEWA
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