Elliott wave Ethereum analysis

25 May 2021

After the upward impulse wave C completed, the market has started moving down, forming the initial par of the bearish impulse. The first bear impulse wave 1 seems to have completed as an impulse. Next, the marker has formed the first sub-wave [A] of the zigzag-shaped correction. There should be unfolding correction [B] and impulse [C] soon, as it is outlined in the chart. The Ethereum price could go up to a level of 2991.00, where wave 2 will retrace wave 1 by 50%.

Trading plan for ETHUSD today:
Buy 2539.76, TP 2991.00