Elliott wave Ethereum analysis 25.04.2022

The ETHUSD market is expected to develop a downward corrective pattern in the shape of a simple zigzag [A]-[B]-[C]. A bearish wave [A] was completed as an impulse (1)-(2)-(3)-(4)-(5). The bullish correction [B] was finished as a simple zigzag (A)-(B)-(C). Now the initial part of the potential impulse wave is unfolding. Currently, two small sub-waves (1)-(2) look completed. In the near future, an impulse decline is expected within sub-wave (3) towards level 2440.00. At this level, wave (3) will reach the Fibonacci level of 200% of wave (1).

Trading plan for ETHUSD today:

Sell 2862.73,

Take profit: 2440.00.

LiteFinance: Short-term forecast for BTCUSD, XRPUSD and ETHUSD 25.04.2022 | LiteFinance

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