Elliott wave Ethereum analysis 11.02.2022

The ETHUSD completed the bearish trend as a combination of zigzags Y, next, the market was rising in the bullish linking wave XX. The XX wave is the second linking wave, and the entire downtrend is a triple zigzag. The XX wave is composed of sub-waves [W]-[X]-[Y]. Wave [W] is a zigzag (А)-(В)-(С), the [Y] wave is a triple zigzag (W)-(X)-(Y)-(XX)-(Z). The market must have started declining in the new bearish trend, with the impulse wave [1] developing inside. Wave [1] should end at a level of 2950.0, the low marked by corrective wave [4]. An approximate trajectory of the Ethereum future price movement is outlined in the chart.

Trading plan for ETHUSD today:

Sell 3067.55.

Take profit: 2950.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 11.02.2022 | LiteFinance

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