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Elliott wave Ethereum analysis 16.05.2022

The ETHUSD is forming the bearish wave [C], the final leg of the standard zigzag [A]-[B]-[C]. Wave [C] is unfolding as a five-wave impulse (1)-(2)-(3)-(4)-(5). The first three sub-waves may have completed, and the bullish correction (4) is developing as a standard zigzag A-B-C. Wave (4) could end at a level of 2324.00, where it will retrace impulse (3) by 50%.

Trading plan for ETHUSD today:

Buy 2101.84,

Take profit: 2324.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 16.05.2022 | LiteFinance



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