Elliott wave Ethereum analysis  02.05.2022

The ETHUSD is trading in the downtrend. There could be forming a bearish zigzag [A]-[B]-[C], with sub-waves [A] and [B] completed inside as an impulse and a zigzag. There is developing the final impulse wave [C], with sub-wave (1) and (2) likely completed inside. The Ethereum price should be falling in the impulse sub-wave (3) to a level of 2429.00, as outlined in the chart. At the indicated level, wave (3) will be 161.8% of wave (1). One could consider entering short trades in the current situation.

Trading plan for ETHUSD today:

Sell 2853.26,

Take profit: 2429.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 02.05.2022 | LiteFinance

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