ETHUSD Elliott Wave Technical Analysis March 15 2023
4Hour
Ethereum/U.S.dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (1)
Direction Next higher Degrees: wave ((3)) of Motive
Details: Wave (1) seems to have ended at the level of 1787.74, and the price has corrected in wave (2) before rising again.
Wave Cancel invalid level: 1369
Ethereum/U.S.dollar(ETHUSD)Trading Strategy: Wave (1) appears to end at the 1787.74 level, leaving us looking for a retracement in wave (2) where the relationship with wave (1) is multiplied by 61.8 before rising again.
Ethereum/U.S.dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish
Daily
Ethereum/U.S.dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave III
Direction Next higher Degrees: wave (I) of Motive
Details: Wave 3 equals 1.618 multiplied Length of wave 1 at 2943.53
Wave Cancel invalid level: 1073.42
Ethereum/U.S.dollar(ETHUSD)Trading Strategy: Ethereum price is back above the MA200 line, with the third wave price structure, we are forecasting a rise above the 2031 level and possibly counting towards the 2943 level, which is the length of the first wave multiplied by 1.618.
Ethereum/U.S.dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish
