Image Source: Elliott Wave Analysis TradingLounge Daily Chart, 15 November 23,Ethereum/ U.S. dollar(ETHUSD)ETHUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave 1Direction Next higher Degrees: wave (1) of ImpulseWave Cancel invalid level:Details: Wave 1 may have ended and prices are entering. Correction in Wave 2Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: The rise in Wave (1) seems to have concluded at the level of 2136.53, and the price is entering a correction phase in Wave (2), where the retracement of Wave (2) is usually .50 or .618 x the length of Wave (1). Therefore, Ethereum’s outlook remains bullish, with the retracement serving as only a short-term rally to continue 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, CEWASource : Tradinglounge.comElliott Wave Analysis TradingLounge 4H Chart, 15 November 23,Ethereum/ U.S. dollar(ETHUSD)ETHUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave 1Direction Next higher Degrees: wave (1) of ImpulseWave Cancel invalid level:Details: Wave 1 may have ended and prices are entering. Correction in Wave 2Ethereum/ 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 the retracement of Wave (2) is usually 0.50 or 0.618 x the length of Wave (1). Therefore, Ethereum’s outlook remains bullish. The retracement is only a short-term rally to continue Wave (3).Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, RSI is a Bullish Momentum.
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Elliott Wave Technical Analysis: ETHUSD – November 15
