ETHUSD Elliott Wave Technical Analysis 29 January 2023
4Hour
Ethereum / U.S.dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave ((1)) of Motive
Details: wave (3) may end and the price throwback in wave (4) before increasing again
Wave Cancel invalid Level: 1231
Ethereum / U.S.dollar(ETHUSD) Trading Strategy: Ethereum continues to gain strength in an impulse wave pattern and still has two moves left before a correction. Trading during this period must be done with caution.
Ethereum / U.S.dollar(ETHUSD) Technical Indicators: The price is above the MA200 MA50, 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 III of Motive
Wave Cancel invalid Level: 1073
Details: wave III is usually the same length as 1.618 x Wave I
Ethereum / U.S.dollar(ETHUSD) Trading Strategy: Ethereum recovered well from the 1073 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards the price target at 2943.
Ethereum / U.S.dollar(ETHUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish
