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Ethereum/ U.S. dollar(ETHUSD) Elliott Wave Technical Analysis 15 November 23


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Elliott Wave Analysis TradingLounge Daily Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

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Elliott Wave Analysis TradingLounge 4H Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

 

1356143bfa1174b0e88fa57df7ca0970

 

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With the ETH ETF I thought it would have much impact like that of BTC and I was ready to use Dual Investment as usual as I did with that of BTC to see trade it due to volatility but it seems everything is getting to the opposite. So, I'll be looking out for the retracement to know the best time to use it

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  • 1 month later...
On 15/11/2023 at 11:38, tradinglounge said:

Elliott Wave Analysis TradingLounge Daily Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

12237ccd77126c9a1c42924f850b740f

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

 

1356143bfa1174b0e88fa57df7ca0970

 

Finally it's one the play...

IMG_20240104_075904.jpg

IMG_20240104_075930.jpg

Link to comment
On 15/11/2023 at 07:38, tradinglounge said:

Elliott Wave Analysis TradingLounge Daily Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

 

12237ccd77126c9a1c42924f850b740f

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 15 November 23,

Ethereum/ U.S. dollar(ETHUSD)

ETHUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 1

Direction Next higher Degrees: wave (1) of Impulse

Wave Cancel invalid level:

Details: Wave 1 may have ended and prices are entering. Correction in Wave 2

Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in wave(1) appears to have ended at the level of 2136.53 and the price is entering a period of correction in wave(2), where Retracement of wave (2)usually .50 or .618 x Length. wave (1) Therefore, Ethereum's outlook remains bullish. The retracement is only a short term rally to continue the wave (3).

Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.

 

1356143bfa1174b0e88fa57df7ca0970

 

I agree with the analysis of TradingLounge that Ethereum is in a bullish trend and that the current correction in wave is a temporary setback. I think the wave was very strong and showed a lot of momentum and volume. The wave is likely to find support at the Fibonacci retracement levels of 0.5 or 0.618 of the wave (1). I am looking for a reversal signal to enter a long position in wave (3), which should be the most powerful and profitable wave of the impulse. I also like the technical indicators that confirm the uptrend, such as the price above the MA200 and the RSI above 50. I think Ethereum has a lot of potential and will continue to outperform other cryptocurrencies in the future.

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2 hours ago, gamred said:

I agree with the analysis of TradingLounge that Ethereum is in a bullish trend and that the current correction in wave is a temporary setback. I think the wave was very strong and showed a lot of momentum and volume. The wave is likely to find support at the Fibonacci retracement levels of 0.5 or 0.618 of the wave (1). I am looking for a reversal signal to enter a long position in wave (3), which should be the most powerful and profitable wave of the impulse. I also like the technical indicators that confirm the uptrend, such as the price above the MA200 and the RSI above 50. I think Ethereum has a lot of potential and will continue to outperform other cryptocurrencies in the future.

I'm interested in buying real estate with cryptocurrency and following Elliott Wave Analysis TradingLounge Daily Chart. I think this is a great way to diversify my portfolio, take advantage of the rising crypto market, and benefit from the technical analysis of TradingLounge. I have been following TradingLounge for a while and I really like their Elliott Wave Analysis of various markets, especially Forex, Indices, and Commodities. They use a simple concept called TradingLevels to empower their trading and identify the best entry and exit points. They also offer a 20-day trial for $1, which I think is a great deal. I have been looking for properties that accept crypto as a form of payment, and I found some on with some actual guide.

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Grabbed here. Most likely we may not gonna see this range anytime soon . It may go up only from here and may not retrace much during future dips . This is one last opportunity for ETH. BTC may dump here and there . ETH may not for the most part this year.

IMG_20240110_073543.jpg

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