Image Source: PixabayElliott Wave Analysis TradingLounge Daily ChartEthereum/ U.S. dollar(ETHUSD)ETHUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Zigzagposition: Wave CDirection Next higher Degrees: wave IIWave Cancel invalid level:
Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:
ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.Trading strategies* Buy Strategy (Long Position): * If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.* Risk Management: * If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.
Elliott Wave Analysis TradingLounge 4hr ChartEthereum/ U.S. dollar(ETHUSD)ETHUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Zigzagposition: Wave CDirection Next higher Degrees: wave IIWave Cancel invalid level:
Ethereum/ U.S. dollar(ETHUSD)Trading Strategy:
ETH/USD is in a correction phase of Wave (2). If the price holds above the key support level, there is a high chance of entering Wave (3) with a new uptrend target. Investors should closely monitor price movements near the 3,007.89 USD and 3,354.68 USD levels.Trading strategies* Buy Strategy (Long Position): * If the price holds above 3,007.89 USD and breaks through the Bullish Level (3,354.68 USD), it will confirm that ETH is entering Wave (3), which is a new uptrend.* Risk Management: * If the price drops below 3,007.89 USD, it may test the next support level at 2,911.55 USD or worse, it may adjust to 2,149.30 USD.
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