Elliott wave Ethereum analysis  09.05.2022

The ETHUSD market continues forming the linking wave (X) as a triple zigzag W-X-Y-XX-Z. The chart displays the structure of the final motive wave Z developing as a standard zigzag [A]-[B]-[C], with the first two sub-waves completed inside. The final wave [C] is likely unfolding as a descending impulse (1)-(2)-(3)-(4)-(5). The Ethereum price should be moving down in impulse (3) to a level of (1)-(2)-(3)-(4)-(5), where wave (3) will be 123.6% of wave (1).

Trading plan for ETHUSD today:

Sell 2507.64,

Take profit: 2396.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.05.2022 | LiteFinance

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