Elliott wave Ethereum analysis 10.05.2022

The hourly ETHUSD chart displays the structure of the bearish wave Z, the final wave of the large zigzag. Wave Z is unfolding as a simple zigzag [A]-[B]-[C], with the [A] impulse and the [B] correction completed inside. The final wave [C] is unfolding as an impulse (1)-(2)-(3)-(4)-(5). The price should be falling in sub-wave (3) to a level of 2043.00, where wave (3) will be 200% of wave (1). Next, the upward correction (4) could start developing, as outlined in the chart.

Trading plan for ETHUSD today:

Sell 2311.80,

Take profit: 2043.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 10.05.2022 | LiteFinance

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