empty
 
 
18.02.2019 08:49 AM
Ethereum Elliott Wave analysis for 18/02/2019

Ethereum Elliott Wave analysis for 18/02/2019:

Wave C is getting extended to the upside, 61% Fibo has been hit.

Technical market overview:

The ETH/USD pair has hit the 61% Fibonacci retracement at the level of $134,62 and made a new higher high at the level of 138.25 at the time of writing. The move up is the anticipated wave (c) in the making, but the market might be very close to terminate the upwards corrective cycle in wave B and the downtrend will return. Moreover, there is an orange trend line dynamic resistance around the level of $136. In a case of a further up move extension, the next target is seen at the level of 142.22 - 145.50 zone.

Weekly Pivot Points:

WR3 - $158

WR2 - $149

WR1 - $138

Weekly Pivot - $126

WS1 - $118

WS2 - $106

WS3 - $99

Trading recommendations:

All of the buy orders that were bought during last week in the buyback zone are now closed with profit at the level of $134.62. If you still have any open by orders, the next targets are seen at the levels of $140.00 and $142.22. Daytraders should try to buy the ETH on the local corrections.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback