Elliott wave Ethereum analysis 16.12.2022

Ethereum is building a bearish A-B-C zigzag in the long term. Corrective wave B, consisting of three main sub-waves [W]-[X]-[Y], has been formed in the beforementioned zigzag. Thus, soon expect the formation of the initial part of the downward wave C. The first target that the bears intend to reach is the low of 1216.00, marked by the linking wave (X).

Trading plan for ETHUSD for today:

Sell 1267.24,

Take profit: 1216.00.

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