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Elliott wave Ethereum analysis 09.06.2022

The ETHUSD is forming a sideways wave with a slight downside slope, a skewed triangle, whose construction lines are marked with red in the chart. The triangle is composed of sub-waves A-B-C-D-E, with corrective wave D unfolding inside. Wave D is a double zigzag (W)-(X)-(Y). A short horizontal corrective wave B should soon end as a triangle, whose construction lines are marked with green. Next, the Ethereum price will resume declining in impulse wave C to a level of 1696.00, the previous low marked by wave [W].

Trading plan for ETHUSD today:

Sell 1797.56,

Take profit: 1696.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 09.06.2022 | LiteFinance




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