Elliott wave Ethereum analysis 07.12.2021

The ETHUSD market is forming a descending corrective wave as a double zigzag W-X-Y. The motive wave W seems to have completed as a zigzag [A]-[B]-[C]. There is unfolding the linking wave X, also as a zigzag [A]-[B]-[C], as outlined in the chart. Impulse [A] and correction [B] have finished, and the Ethereum price should be rising in the final impulse wave [C]. The [C} wave could finish at a level of 4540.00, where the X wave will be 76.4% of wave W.

Trading plan for ETHUSD today:

Buy 4364.87, 

TP 4540.00

LiteFinance: Elliott wave analysis BTCUSD, XRPUSD and ETHUSD today (7 December 2021) | LiteFinance

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