Elliott Forecast - Ethereum (ETHUSD) Bullish Rally Looking Like Impulse Structure | ResearchPool

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Elliott Forecast

Daud Bhatti

Ethereum (ETHUSD) Bullish Rally Looking Like Impulse Structure

June 23, 2023 By

Short term view in Ethereum (ETHUSD) from 3.10.2021 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.10.2021 low, wave 1 ended at 2140.8 and dips in wave 2 ended at 1622.7 as the 2 hour chart below shows. Internal subdivision of wave 2 unfolded as a . Down from wave 1 at 4.16.2021 high, wave ((w)) ended at 1787 and wave ((x)) ended at 2020.6. Wave ((y)) subdivides into another double three in lesser degree. Down from wave ((x)), wave (w) ended at 1737.4, wave (x) ended at 1927.5 and wave (y) lower ended at 1622.7. This completed wave ((y)) of 2 in higher degree.

The crypto-currency has turned higher in wave 3. Up from wave 2, wave i ended at 1770.9 and pullback in wave ii ended at 1699.8. Ethereum then resumes higher in wave iii towards 1933.1. Expect wave iv dips to end soon, then the crypto-currency should extend higher in wave v. This would complete wave (i) in higher degree. Afterwards, it should pullback in wave (ii) to correct cycle from 6.15.2023 low before the rally resumes. Near term, as far as pivot at 1622.7 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

ETHUSD 2 Hour Elliott Wave Chart

ETHUSD Elliott Wave Video

Source:-forecast.com/news/ethereum-ethusd-bullish-rally-looking-like-impulse-structure/

#trading #elliottwave #ETHUSD

23/06/2023 1 EN

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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