Elliott wave Ethereum analysis 08.06.2022

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]. Sub-waves (1)-(2)-(3)-(4) have completed within the [C] wave, where correction (4) is a skewed triangle. The market is now declining in sub-wave (5), with the final leg 5 unfolding inside. Wave (5) should end at a level of 1536.00, where it will be 38.2% of the previous impulse (3).

Trading plan for ETHUSD today:

Sell 1777.21,

Take profit: 1536.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 08.06.2022 | LiteFinance

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.