Elliott Wave analysis for Ethereum

23 feb 2022

After an upward linking wave XX formed as a double zigzag [W]-[X]-[Y], a new bearish trend started developing in the ETHUSD chart. Most likely, a downward wave [A] is currently unfolding as impulse (1)-(2)-(3)-(4)-(5). The middle part of the impulse — subwave (3) — is developing now. It's supposed to end at level 2355.00, marked by a small correction B.

Trading plan for ETHUSD for today:
Sell 2654.62, Take profit: 2355.00.