Ethereum ETH (ETH-USD) Price Chart Analysis

ETHUSD Elliott Wave Technical Analysis June 21 2023

4Hour

Ethereum/U.S.dollar(ETHUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Follow Trend
Structure: Motive
Position: Wave 2
Direction Next higher Degrees: Wave (1) of Motive
Details: Wave  2 reversal has a probability of .618 x length Wave ((1)).
Wave Cancel invalid Level: 6.95

Ethereum/U.S.dollar(ETHUSD)Trading Strategy: Ethereum Wave ((2)) is likely to end at the 1620.15 level, which is enough to reverse Wave((2)) in line with a rebound through the MA200, making our predictions. five-wave movement to support this concept And it could be the start of a new uptrend.

Ethereum/U.S.dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum

Daily

Ethereum/U.S.dollar(ETHUSD)
NEOUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Corrective
Position: Wave ((Y))
Direction Next higher Degrees: Wave II of Motive
Details:  Wave II may have ended at the level of 6.97. Five waves of rise will support this idea.
Wave Cancel invalid Level: 5.91

Ethereum/U.S.dollar(ETHUSD)Trading Strategy: Ethereum Wave ((2)) is likely to end at the 1620.15 level, which is enough to reverse Wave((2)) in line with a rebound through the MA200, making our predictions. five-wave movement to support this concept And it could be the start of a new uptrend.

Ethereum/U.S.dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator has a Bullish momentum