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Elliott Wave analysis for Ethereum 21.04.2022

Based on the ETHUSD’s current pattern, we can suppose that a bearish zigzag [A]-[B]-[C] is developing at the moment. The first actionary wave [A] of this zigzag is fully formed as a five-wave impulse. The market is currently in the corrective wave [B], which may form as a bullish simple zigzag (A)-(B)-(C). The first small subwaves (A) and (B) may have formed already. The price can be expected to rise in the ultimate subwave (C) to a level of 3311.00 in the near time. The subwave (C) may develop as an impulse. At the level of 3311.00, the size of correction [B] will be 61.8% of the impulse [A].

Trading plan for ETHUSD for today:

Buy 3079.94,

Take profit: 3311.00.

LiteFinance: Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 21.04.2022 | LiteFinance



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