Short Term Elliott Wave View in Ethereum (ETHUSD) suggests that the decline from August 13, 2022 peak is unfolding as a . Down from August 13 peak, wave 1 ended at $1858.10 and wave 2 rally ended at $1957.30. The crypto currency then extended lower in wave 3 towards $1603.7 and wave 4 rally ended at $1655.10. Final leg lower wave 5 ended at $1524 and this completed wave (A).

Wave (B) bounce ended at $1725.78 with internal subdivision as a zigzag. Up from wave (A), wave A ended at $1645.60 and pullback in wave B ended at $1529.40. Wave C higher ended at $1725.78 which also completed wave (B). The crypto currency has turned lower in wave (C). Down from wave (B), wave ((i)) ended at $1620 and rally in wave ((ii)) ended at $1705.80. Ethereum then extended lower in wave ((iii)) towards $1447.20, wave ((iv)) ended at $1494.90 and wave ((v)) ended at $1422.30 which completed wave 1. Rally in wave 2 is in progress in 3 waves and as far as pivot at $1725.78 stays intact, it can see further downside to end wave (C). If it breaks above $1725.78, then there’s a possibility that the zigzag (A)-(B)-(C) correction is complete. In that case, Ethereum can start to see further rally and break above August 13, 2022 peak.

Ethereum 60 Minutes Elliott Wave Chart

ETHUSD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-ethereum-ethusd-upside-expected/

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