Jump to content

Ethereum (ETHUSD) Elliott Wave Technical Analysis


Recommended Posts

Posted

 Ethereum (ETHUSD) Elliott Wave Technical Analysis

Ethereum (ETHUSD)

Elliott Wave Analysis TradingLounge 3-Daily Chart, 3 August 2022,

ETHUSD Elliott Wave Technical Analysis

Structure: Zigzag

Position: Wave C

Direction Next higher Degrees: Impulse wave (IV)

Details: Wave C may be over and from this point, it may be until the start of a new uptrend.

Wave Cancel invalid Level: 993.79

Ethereum Trading Strategy: Since the price has already moved very high from the low of the year, entering a long position might not be a good idea now, wait for the throwback to reconsider.

Ethereum Indicators: The price approaches the key resistance level and the 200-period moving average may be a short-term reversal.

Source: tradinglounge com Elliott Wave Analyst: Kittiampon Somboonsod


image.thumb.png.3169f0e18dba922dd8614db88620d9b9.png


image.thumb.png.87ad30831e818c6053bacc67f35bfff5.png

Ethereum (ETHUSD)

Elliott Wave Analysis TradingLounge 4H Chart, 3 August 2022,

ETHUSD Elliott Wave Technical Analysis

Mode: Motive

Structure: Impulse

Position: Wave 2

Direction Next higher Degrees:

Details:  rising in wave 3 or 5

Wave Cancel invalid Level: 993.79

Ethereum Trading Strategy: The price has bounced back from the key resistance and has moved up quite a lot from the previous month's low. So, in the short term, there is an opportunity to test the support at the 1354.69 level. This could be an opportunity to join the trend again.

Ethereum Technical Indicators: A golden cross has occurred. The trend may turn bullish, but as RSI (14) has a short-term divergence signal, there may be a throwback

 

image.thumb.png.7f7bab51d8df01889dc63ae1838ba509.png

image.thumb.png.afab1adf01c6f7a591fb7f71eea3c542.png

  • Like 1

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • $CULT isn't just a token; it's a vision for decentralized governance and financial innovation. Built on the Ethereum blockchain, CULT aims to disrupt traditional systems by fostering a hyperconnected, community-driven ecosystem. Now debut on BingX's Innovation Zone, CULT is gaining attention for its unique blend of market intelligence and decentralized ideology. This token reflects the growing on Ethereum the trending of blockchain assets that transcend mere financial utility, paving the way for new forms of digital collaboration and community building. Discover how CULT is shaping the future of decentralized movements in the ever-evolving world of crypto.
    • Movement (MOVE) is establishing itself as a key player in the blockchain space, aspiring to lead as an Ethereum Layer 2 network with salient transaction speed and scalability. With a team of experts from Aptos, Bloomberg, and the Sui Foundation, the project has shown its capacity to deliver on innovative design and concepts. In just one month after its testnet launch, it attracted an impressive 605K users, signaling strong market demand. Armed with $41.4M in funding from leading investors like Polychain, Binance Labs, and OKX Ventures, the project is shaping a diverse ecosystem to advance DeFi.   Beyond technology, MOVE excels in outreach, leveraging high PR scores, influencer marketing, and SEO strategies to build a strong social media presence and vibrant community. Critics, however, question whether its rapid growth might surpass its ability to deliver technical results. Yet, its partnerships and infrastructure solidify its potential to compete in the crowded Ethereum L2 market. Should it maintain its current trajectory, MOVE could set a new benchmark for scalability and innovation in DeFi. It's token is kinda doing well atm on CEXs like Bitget, nance & others.
    • BGB is currently among the leading most performed token of the year especially as it has flipped OKB marketcap and currently among the top 50 largest token by marketcap on coinmarketcap.  Use case is mostly important for token growth and price performance and this is evident in BGB recent performance. The exchange continue to introduce innovative earning opportunities for holders of the token and this could be the reasons many users continue to DCA it. Imagine so many passive income for holders like Launchpool, Candybomb, Poolx, launchpad and even the BGB holders group. The high demand for the token has pushed it from $0.5 to over $2.9 and some analysts are predicting it could further hit above $5 before the year ends.  With Bitget November protection fund achieving all-time high of $643 million, we could see that translate to more investors trust in the exchange and further shoot it to the much anticipated $5. 
×
×
  • Create New...
us