ETHUSD - SELL IDEA
The chart for ETHUSD (Ethereum vs. US Dollar) indicates a potential short opportunity. According to the Elliott Wave analysis displayed, the price has completed a five-wave structure and seems to be in a corrective phase. The Fibonacci levels suggest that wave (5) might reach key support levels at:
- 0.250 Fibonacci retracement at 2413.56
- 0.5 Fibonacci retracement at 2409.74
- 0.618 Fibonacci retracement at 2397.40
These levels might serve as targets for the downward move in the correction phase. If you're considering a short position, these could be possible take-profit levels, while a stop loss could be set above recent highs to manage risk.
- 0.250 Fibonacci retracement at 2413.56
- 0.5 Fibonacci retracement at 2409.74
- 0.618 Fibonacci retracement at 2397.40
These levels might serve as targets for the downward move in the correction phase. If you're considering a short position, these could be possible take-profit levels, while a stop loss could be set above recent highs to manage risk.
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