ETHUSDT: Elliott Wave Analysis - Current Correction WXY

14 часов назад

Long-Term Perspective:
Ethereum (ETH) appears to be forming a global 5-wave impulsive structure based on Elliott Wave principles. Waves 1, 2, and 3 are already completed, and the asset is currently developing the corrective wave 4, which is likely to take the form of a W-X-Y double zigzag.

The first phase of this correction, wave W, has already concluded.
Ethereum is now forming the connecting wave X before the final Y wave unfolds.
Mid-Term Analysis:
On the 4-hour timeframe, within the ongoing wave X:

Wave (A): A completed impulsive wave.
Wave (B): A corrective wave, fully formed.
Wave (C): Currently in progress and expected to consist of the following subwaves:
Wave 1: An initial diagonal structure.
Wave 2: A standard zigzag correction.
Wave 3: A strong impulsive move with significant price momentum.
At the moment, wave 4 of (C) is taking shape, likely forming a standard zigzag [A]-[B]-[C]:

Subwave [A] completed near $3,090.
Subwave [B] correction is underway.
A further decline in subwave [C] is expected to reach the $3,090 level.
Key Levels:
Resistance: $3,400
Support: $3,090
Trading Recommendations:
For Short-Term Traders:

Consider opening short positions once wave [C] confirms a downward move, targeting the $3,090 level.
For Long-Term Investors:

Note that the current correction is part of a larger impulsive structure. Once it concludes, the price may rise significantly as wave 5 develops.
Final Notes:
Wave 4 corrections often exhibit complexity and can extend beyond initial projections. Use additional tools such as RSI, MACD, and volume analysis to confirm signals.
Always employ proper risk management strategies and set stop-loss levels based on market volatility.
This analysis is based on Elliott Wave principles and is not financial advice. Always conduct your own research before making trading decisions.

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