10May
ETHUSD Elliott Wave Technical Analysis May 11 2023
ETHUSD Elliott Wave Technical Analysis May 11 2023
4Hour
Ethereum /U.S.dollar(ETHUSD)
Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: wave (2) of Motive
Details: The retracement of wave (2) has a probability of .618 x wavelength (1).
Wave Cancel invalid level: 1688.00
Ethereum /U.S.dollar(ETHUSD)Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.
Ethereum /U.S.dollar(ETHUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are Bearish momentum
Daily
Ethereum /U.S.dollar(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Zigzag
Position: Wave C
Direction Next higher Degrees: wave (2) of Motive
Details: The retracement of wave (2) has a probability of .618 x wavelength (1).
Wave Cancel invalid level: 1688.00
Ethereum /U.S. dollar (ETHUSD)Trading Strategy: There is still a risk of correction of the wave (2), which has the opportunity to test the MA200 line, which is an important support. Wait for the correction to complete. to join the trend again
Theta Token /U.S.dollar(THETAUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are Bearish momentum
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