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Elliott Wave Analysis TradingLounge 3-Daily Chart, 11 August 2022, Ethereum(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Structure: Motive
Position: Wave I
Direction Next higher Degrees: Impulse wave (V) Details: the first wave may be finished and the price is going Back in the second wave
Wave Cancel invalid Level:
Ethereum(ETHUSD)Trading Strategy: Prices have risen significantly from the lows of the year. It is also higher than the previous month's high. This is a good signal in an uptrend. But it's not a good time to open a long position, so wait for the second wave to throw back.

Ethereum(ETHUSD) Indicators: The RSI is entering the Overbought level.

TradingLounge Analyst: Kittiampon Somboonsod

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Elliott Wave Analysis TradingLounge 4H Chart, 11 August 2022, Ethereum(ETHUSD)
ETHUSD Elliott Wave Technical Analysis
Mode: Motive
Structure: Impulse
Position: Wave II
Direction Next higher Degrees: Impulse wave (V) Details: the first wave may be finished and the price is going Back in the second wave
Wave Cancel invalid Level: 881.54
Ethereum(ETHUSD) Trading Strategy: Prices have risen significantly from the lows of the year. It is also higher than the previous month's high. This is a good signal in an uptrend. But it's not a good time to open a long position, so wait for the second wave to throw back.

Ethereum(ETHUSD) Technical Indicators: RSI(14) is entering the oversold zone.

(Click on image to enlarge)

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