ETH like a bullet train

7 Nov 2024

Hey, traders! 👋

Ethereum is currently showing a strong upward movement, and there are some key levels and zones that could serve as interesting entry and exit points.

Key Points:
Elliott Wave Structure 🌊
The chart indicates the completion of the 5th wave in the Elliott structure, signaling a potential end to the current impulse move.

Target Range $3000 - $3150 🎯

Support at MA20-W Level 📉
The weekly MA20 confirms a strong support zone around $2740, a level where the asset may find support if a correction occurs.

Fibonacci Retracement Levels 🔄
In case of a pullback, keep an eye on the 0.382, 0.5, and 0.618 levels, as they could offer potential retracement entry points.

Possible Scenarios:
If Ethereum reaches the target zone, we might see a subsequent downward move for a correction. The $2700 level could act as solid support, from where new long positions might be considered.

Shaka
ETHUSD ETHUSD ETHUSD ETHUSDT

7 Nov 2024

Nota

we have quite strong limit resistance