Ethereum Analysis
Ethereum Falling Wedge Analysis 🔥🔥🔥
The above chart of Ethereum laid out a Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Ethereum is currently trading around $1296. If the pattern broke through the resistance, the price of Ethereum might reach the resistance levels of $1800. If the trend reverses, then the price of Ethereum may fall to $990
Elliot Wave : Corrective Wave (Running Triangle)
Triangle is the third kind of corrective structure , Made up of Five Wave : A,B,C,D & E. It follows a 3-3-3-3-3 wave structure . All waves sub divide into 3 sub waves. Waves B usually overshoots the origin of wave A
So as per the wave structure we may see fall in the Ethereum till 990 $
Happy Trading
Ethereum Falling Wedge Analysis 🔥🔥🔥
The above chart of Ethereum laid out a Falling Wedge pattern. In a falling wedge pattern, both the upper trend line which connects the highs and the lower trend line which connects the lows converge downwards. The wedge pattern in general indicates a trend reversal. Especially, the falling wedge signals a bullish reversal. This pattern indicates a breakout in the price trend towards an upswing. From the above chart, we can interpret that the momentum of the downtrend is slowing down.
Ethereum is currently trading around $1296. If the pattern broke through the resistance, the price of Ethereum might reach the resistance levels of $1800. If the trend reverses, then the price of Ethereum may fall to $990
Elliot Wave : Corrective Wave (Running Triangle)
Triangle is the third kind of corrective structure , Made up of Five Wave : A,B,C,D & E. It follows a 3-3-3-3-3 wave structure . All waves sub divide into 3 sub waves. Waves B usually overshoots the origin of wave A
So as per the wave structure we may see fall in the Ethereum till 990 $
Happy Trading
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Pattern breakout
