Ethereum at PRZ: Bullish Setup _ Short term

18 giu

Ethereum (ETHUSDT) reacted from the Potential Reversal Zone (PRZ)[$2,493-$2,472] around the confluence of key Fibonacci levels, the Important Support line and 50_SMA(Daily).

From an Elliott Wave point of view, we can identify a Expanding Flat(ABC/3-3-5) structure ending right above the Support zone ($2,474-2,437).

The structure also hints at the formation of a new upward leg, potentially leading ETH toward the Resistance zone ($2,564-$2,524) and the upper line of the Ascending Channel.

I expect Ethereum to test the 38.2%($2,531=First Target) - 50%($2,561) Fibonacci retracement levels on the way to a potential retest of the previous swing highs.

Note: Stop Loss (SL) = $2,451= Worst Stop Loss(SL)

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Ethereum Analyze (ETHUSDT), 15-minute time frame.

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19 giu

Trade attivo

Position was activated

20 giu

Trade chiuso: obiettivo raggiunto

Target Done