Ethereum – Elliott Wave Analysis

Ethereum – Elliott Wave Analysis

Ethereum has completed a higher-degree (yellow) wave 1-2 structure, followed by a lower-degree (green) wave 1-2 setup within the developing impulsive sequence.

Following the completion of the green wave 2 corrective phase—highlighted in orange—Ethereum initiated a new impulse wave 1 to the upside (labeled in light blue), marking the beginning of the next advance within the broader wave 3 (green).

We are now anticipating a wave 2 retracement (light blue) within this developing leg. The key focus lays down to our Fibonacci target zone, which would ideally set the foundation for a potentially upcoming strong upward move in wave 3(light blue).


Trading Plan:

Patience is essential as we wait for price to retrace into the target Fibonacci zone, ranging from the 50% level at $3,000down to the 78.6% level at $2,200.

This zone represents a high-probability long setup in preparation for the expected impulsive rally in wave 3 (light blue).

Read more