Elliott wave Ethereum analysis 24.08.2022

The ETHUSD market is forming the final wave Z as a part of the triple zigzag (X) of a larger degree. Wave Z is unfolding as a simple zigzag [A]-[B]-[C], with the first two sub-waves completed inside. Wave [C] is developing as an impulse (1)-(2)-(3)-(4)-(5), with sub-waves (1)-(2) finished. The Ethereum price should continue falling in sub-waves (3)-(4)-(5) to a level of 850.00, as outlined in the chart.

Trading plan for ETHUSD today:

Sell 1620.28,

Take profit: 850.00.

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