Elliott wave Ethereum analysis 06.07.2022

The ETHUSD chart displays the structure of the down wave (5), which is an element of the bearish impulse wave [C]. Wave (5) is unfolding as an impulse 1-2-3-4-5, with the final sub-wave 5 developing inside as an ending diagonal [1]-[2]-[3]-[4]-[5]. Correction [4] has finished as a double zigzag, and the Ethereum price will continue falling in the final sub-wave [5] to a level of 870, where wave (5) will be 76.4% of impulse (3).

Trading plan for ETHUSD today:

Sell 1117.67,

Take profit: 870.00.

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