Technical Analysis

Ethereum Dominance Came Into Strong SupportNov 6, 2024

If we take a look at Ethereum.dominance chart with ticker ETH.D, we can see it approaching interesting and strong support area for wave C of (Y) with equal wave length of waves A=C and (W)=(Y) that can belong to a complex (W)-(X)-(Y) corrective setback, so be aware of bounce and recovery, which can recover the Ethereum price.

Ethereum Dominance Came Into Strong Support ETH.D Daily Chart
ETH.D Daily Chart

Considering that Ethereum dominance is nearing strong support while it’s finishing a complex W-X-Y correction, we should also keep an eye on the weekly ETHBTC chart, which is also trading at strong weekly trendline within a three-wave A-B-C correction that can rebound the price, where Ethereum may start outperforming Bitcoin.

Ethereum Dominance Came Into Strong Support ETHBTC Weekly Chart
ETHBTC Weekly Chart

Is Ethereum about to rally and to follow Bitcoin in the current bullish Crypto market?

For a detailed view, visit us and become a member of www.wavetraders.com

Webinar

Elliott wave webinar

Funded Trader Program

Trade our money and collect the profits.

Learn Elliott Waves

Access to more than 7 hours of educational material

Crypto

KuCoin Is Looking For A Bullish Continuation

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close