Elliott wave Ethereum analysis 21.12.2022

Ethereum is forming a bearish A-B-C zigzag in the long term. As part of this zigzag, the development of a long corrective wave B, consisting of three main sub-waves [W]-[X]-[Y], has come to an end. The last section of the chart shows that the initial part of the downward wave C, consisting of sub-waves [1]-[2]-[3]-[4]-[5], is currently unfolding. It is expected to end at level 1050.00, where wave C will be 50% of impulse A.

Trading plan for ETHUSD for today:

Sell 1207.37,

Take profit: 1050.00.

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