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)
Please respect each other's ideas and express them politely if you agree or disagree.
Ethereum Analyze (ETHUSDT), 15-minute time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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)
Please respect each other's ideas and express them politely if you agree or disagree.
Ethereum Analyze (ETHUSDT), 15-minute time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Position was activatedTrade closed: target reached
Target Done
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🎁Welcome than a 50% bonus(Low Spread)👉vtm.pro/Y3AV7r
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
🎁Get a 20% Discount on your trading FEE on BYBIT:👉partner.bybit.com/b/PEJMANZWIN
🎁Get a 20% Bonus & 30% Discount on LBANK exchange(NO KYC)👉lbank.one/join/uBythQd
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.