Technical Analysis

Ethereum Can Be In Final Stages Of A CorrectionOct 10, 2023

Ethereum Can Be In Final Stages Of A Correction from technical point of view and from Elliott wave perspective.

Ethereum with ticker ETHUSD is looking for a bullish resumption on a daily chart, but after current (A)-(B)-(C) correction which can be still in progress after recent three-wave corrective recovery. Looking at the 4-hour chart, we are tracking final wave 5 of a five-wave cycle within wave (C), so be aware of another, maybe final drop towards 1500 – 1400 area before market finds the support and buyers again.

Ethereum Can Be In Final Stages Of A Correction ETHUSD 4H Chart
ETHUSD 4H Chart

We talked about Ethereum and other markets as well in our yesterday’s live webinar. You can watch a recording below:

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