Elliott wave Ethereum analysis 12.05.2022

The ETHUSD is developing the bearish standard zigzag [A]-[B]-[C], with the [C] wave unfolding inside as a bearish impulse (1)-(2)-(3)-(4)-(5). So far, sub-waves (1) and (2) have completed. The market is forming the final part of the impulse sub-wave (3), composed of waves 1-2-3-4-5, which should end at a level of 1705.00, where wave [5] will be 200% of wave [3]. These two small sub-waves are the elements of wave 5.

Trading plan for ETHUSD today:

Sell 1839.70,

Take profit: 1705.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 12.05.2022 | LiteFinance

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