Welcome to our updated Elliott Wave Analysis for Ethereum which has been showing a lot of strength and bullish momentum recently.
We're assuming that we finished the white Wave 3 and probably even the white Wave 4 in the red ABC which would mean that we possibly started the white Wave 5 already.
We want to communicate the white Wave 4 support area in case we get an extended correction.
The white Wave 4 support area lies between the 0.236 FIB at 4145 USD and the 0.5 FIB at 3937 USD. We also have a lot of potential support at around 4000-4100 USD which is a psychological level as well as recent highs that we have broken which can spark buying interest around that zone.
The first targets for the white Wave 5 would be the 1 to 1 FIB at 4545 USD, the 1.236 FIB at 4635 USD, the 1.382 FIB at 4691 USD and if we get an extended 5th Wave the 1.618 FIB at 4'781 USD.
Thanks for reading.
NO FINANCIAL ADVICE.
We're assuming that we finished the white Wave 3 and probably even the white Wave 4 in the red ABC which would mean that we possibly started the white Wave 5 already.
We want to communicate the white Wave 4 support area in case we get an extended correction.
The white Wave 4 support area lies between the 0.236 FIB at 4145 USD and the 0.5 FIB at 3937 USD. We also have a lot of potential support at around 4000-4100 USD which is a psychological level as well as recent highs that we have broken which can spark buying interest around that zone.
The first targets for the white Wave 5 would be the 1 to 1 FIB at 4545 USD, the 1.236 FIB at 4635 USD, the 1.382 FIB at 4691 USD and if we get an extended 5th Wave the 1.618 FIB at 4'781 USD.
Thanks for reading.
NO FINANCIAL ADVICE.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.