Elliott wave Ethereum analysis 07.06.2022

The ETHUSD market is forming the large descending linking wave (X) as a triple zigzag, with the final motive wave Z developing inside. Wave Z should soon finish as a standard zigzag [A]-[B]-[C]. There is unfolding the bearish impulse wave [C]. The sideways correction (4) has recently completed as a skewed triangle. The market is now declining in sub-wave (5), where sub-waves 1-2-3-4 have completed. The price should be moving down in the final wave 5 to a level of 1520.00, where wave (5) will be 38.2% of the previous impulse (3).

Trading plan for ETHUSD today:

Sell 1750.35,

Take profit: 1520.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 07.06.2022 | LiteFinance

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