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Ethereum/U.S. dollar(ETHUSD) Elliott Wave Technical Analysis 31 July 23


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Elliott Wave Analysis TradingLounge Daily Chart, 31 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: It appears that the correction in wave (2) blue has sufficient retracement levels. There is a possibility that the price will end at the level of 1833.39 and a five-wave rise will confirm this idea.

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

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

ETHDay.thumb.png.fd4d32a000e4eabcd6eb401a844889ed.png

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 31 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: It appears that the correction in wave (2) blue has sufficient retracement levels. There is a possibility that the price will end at the level of 1833.39, a five-wave rise and a break of 1905.41 will confirm this idea.

Ethereum/U.S. dollar(ETHUSD)Technical Indicators: The price is Below the MA200 indicating a Down trend, Wave Oscillator are bullish momentum.

ETHH4.thumb.png.7b09a385bfad6369f27a0e0ed5b422e6.png

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