Ethereum ETH/USD Elliott Wave Analysis

ETH Elliott Wave Analysis on All Time Frame:

Today 8th Aug 2022 

ETH/USD price at $1685

Let's start Elliott wave Analysis on each time frame :

ETH Weekly Chart :

We can see Five impulses have been completed for around $4800 and the Correction of the entire five impulses in form of ABC is finished at $880.

Does Correction is over? We are not astrologers but we can know Crowd Psychology as Crowd behavior in a cycle.

Let's go to Daily Chart:

1st Wave or A Wave: $880-1284

If we consider 1st Impulse wave then the new Bull run is started from $880 and we will not see again $880. 

If we consider A wave then we may see a price below $880 in the coming days.

My Personal view is that $880 is Low and ETH has started new impulse. But this is the market and anything could possible. 

2nd Wave: Zig-Zag Correction of prior 1st wave is deep and it is 70.7% of 1st wave. 

3rd Wave : 

We can see green Sub waves inside the 3rd Wave. The personality of 3rd wave is steep and fast. 3rd wave is easily identified in all waves because of the personality. Traders who oppose trade have hit the stop loss at all levels. So never trade opposite to 3rd wave. 

4th Wave :

Fibonacci 23.6% of 3rd Wave is $1603

Fibonacci 38.2% of 3rd Wave is $1487

abc correction either flat, complex or Triangle, we need to be careful at zone $1484 to $1433.

abc (3-3-5) correction unfolding . "a" & "b" wave is completed. C wave always has five impulse waves as 12345.

Let's go to the 15 Min Time Frame:

We can see Five waves in a "C" wave. Wave I and II are finished. 

Wave III steep and fast & Furious towards $1550 soon. 

In general C wave is 123.6%(A) is $1464 SO watch $1464 it may be the turning point.

Thank you.