Ethereum / U.S.dollar(ETHUSD) Elliott Wave Technical Analysis 1 Febuary 23

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Elliott Wave Analysis TradingLounge Daily Chart, 1 Febuary 23,  

Ethereum / U.S.dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis 

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave III of Motive

Wave Cancel invalid Level: 1073

Ethereum / U.S.dollar(ETHUSD) Trading Strategy: Ethereum recovered well from the 1073 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards to the price target at 2943.

Ethereum / U.S.dollar(ETHUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.

TradingLounge Analyst: Kittiampon Somboonsod

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 1 Febuary 2023,  

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 ((1)) of Motive

Wave Cancel invalid Level: 1231

Ethereum / U.S.Dollar (ETHUSD) Trading Strategy: Ethereum continues to strengthen in its current impulse wave pattern. It is in the phase of a correction in wave (4), upon its completion, the price will increase in wave ((5)) again.

Ethereum / U.S.dollar(ETHUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators have Bearish divergence watch out for Reversal.