Elliott Wave analysis for Ethereum

21 thg 2, 2022

A big triple zigzag continues developing in the ETHUSD's chart. A reactionary linking wave XX has recently formed as a double zigzag [W]-[X]-[Y] within that triple zigzag. The price then started moving downwards in a bearish wave that looks like an impulse. The first two subwaves — a leading diagonal [1] and a bullish correction [2] in the form of a double zigzag — seem to be completed. The pair is expected to fall shortly in impulse [3] below the minimum of 2306.00 formed by linking wave [X].

Trading plan for ETHUSD for today:
Sell 2740.22, Take profit: 2306.00.