Ethereum Looks Corrective Within Uptrend
Oct 14, 2022

ETHUSD

Ethereum looks corrective within uptrend as we see it forming a bullish setup formation from Elliott wave perspective.

Ethereum (ETHUSD) came down in August/September after a five-wave cycle from the lows into first leg A/1 in June/July. Well, seems like bottom is in place and bulls back, so we are now tracking an (A)-(B)-(C) corrective decline within a higher degree wave B/2 before the uptrend resumes. But, we see key do/die support here around 78,6% Fibonacci retracement and 1200-1100 area, so only if we see sharp or impulsive rebound back above channel resistance line and 1800 region, only then we can expect a bullish continuation within wave C/3. Invalidation level remains at 880.

Ethereum Looks Corrective Within Uptrend. ETHUSD 4H Chart
ETHUSD 4H Chart

Interested in more analysis? Check our latest video analysis HERE

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    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