Hello fellow traders. In this technical blog we’re going to take a quick look at the of Ethereum (ETHUSD). As our members know, ETHUSD is showing incomplete sequences in the cycle from the 3977 peak. We have been predicting a price decline. Recently, we got a bounce against the 3650 peak , after which the price dropped toward new lows as we expected. In the following text, we will explain the Elliott Wave Pattern and the forecast.
ETHUSD H1 Elliott Wave Analysis 07.01.2024
ETHUSD current view suggests cycle from the 3650 is still in progress as 5 waves structure. We believe wave (iv) blue ended at 3515 high, as labeled on the chart. As far as the price stays below that peak and more importantly below 3650 peak, we expect further weakness in the cryptocurrency to occur. Although overall view is bullish, we don’t recommend buying the cryptocurrency at this stage and expect to see a decline toward new lows ideally.
You can learn more about Zig Zag Elliott Wave Patterns at our
ETHUSD H1 Elliott Wave Analysis 07.01.2024
The cryptocurrency hold previous peak at 3515 and found sellers as expected. As a result we got a decline toward new lows. Current view suggests cycle from the 3622.7 peak is still in progress as impulsive structure. ETHUSD is now doing (iv) blue recovery. Once wave (iv) blue recovery completes, we should ideally get another low to complete the structure.
Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences.We put them in Sequence Report and best among them are shown in the .
Elliott Wave Forecast
Thank you for exploring our Trading Forecast of Bitcoin ETHUSD with us. While we provide insights on 78 instruments, it’s important to note that not every chart is a trading recommendation. For our official trading recommendations, join us in our Live Trading Room where we provide actionable insights in real-time. If you’re not yet a member, take advantage of our now to access new trading opportunities.
Over time, we’ve honed a reputable trading strategy that accurately defines entry, stop loss, and take profit levels. By joining us, you’ll have the opportunity to learn from market experts and improve your trading skills.
Join us today !
???? Elevate your trading with !
???? Explore our expert insights and real-time analysis covering Forex, Indices, Commodities, Cryptocurrencies, Stocks, and ETFs across 78 instruments.
???? Gain exclusive access to our Official Trading Recommendations in the , where seasoned experts provide valuable insights and guidance on new trading opportunities.
???? For just $9.99, unlock a wealth of knowledge and experience with our . Experience firsthand our proven trading strategy, which accurately defines Entry, Stop Loss, and Take Profit levels, empowering you to make informed decisions with confidence.
???? Ready to take the next step? Sign up now and seize the opportunity to enhance your trading performance.
Source:-forecast.com/cryptos/ethereum-ethusd-decline/
