Ethereum/U.S. dollar(ETHUSD) Elliott Wave Technical Analysis 27 July 23

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Elliott Wave Analysis TradingLounge Daily Chart, 27 July 23,  

Ethereum/U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Zigzag

Position: Wave (C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

Wave Cancel invalid level: 1620.15

Ethereum/U.S. dollar(ETHUSD)Trading Strategy: We continue to consider a decline in the blue wave (2). Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)). Another rise in the blue wave (3) opens the possibility of joining the trend again.

Ethereum/U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillator are bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 27 July 23,  

Ethereum/U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis 

Function: Reactionary(Counter Trend)

Mode: Corrective

Structure: Zigzag

Position: Wave (C)

Direction Next higher Degrees: wave ((2)) of Motive

Details: We are considering ending wave ((2)) from rising above 1905.41 level.

Wave Cancel invalid level: 1620.15

Ethereum/U.S. dollar(ETHUSD)Trading Strategy: Considering the end of the blue wave (2) is confirmed by a breakout. top parallel channel or an increase above the level of 1905.41

Ethereum/U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillator are bullish momentum.