ETH Bullish Setup: Pullback to 200_SMA(D) May Launch Next Rally

6月10日

Ethereum(ETHUSDT) seems to have finally managed to break the Resistance lines and the 200_SMA(Daily) in the fifth attack. However, the number of Resistance lines inside the Heavy Resistance zone($2,929_$2,652) is high, and Ethereum will find it difficult to break through them.

In terms of Elliott Wave theory, it seems that Ethereum is completing microwave 4, and we should wait for this wave to complete. Microwave 4 could act as a pullback to the resistance lines and 200_SMA(Daily).

I expect Ethereum to start rising from the Support zone($2,745_$2,650) again and rise to at least the Potential Reversal Zone(PRZ)[$2,910_$2,810].

Note: If Ethereum touches $2,537[Worst Stop Loss(SL)], we can expect further declines.

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Ethereum Analyze (ETHUSDT), 1-hour time frame.

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6月11日

交易進行

Trade was activated after ETH Pullback to Resistance line(broken)

6月11日

交易結束：目標達成

Target Done