✴️ The Graph | EW Basics With Potential Targets (0.395 & 0.555+)

Here we the chart for The Graph (GRTUSDT) and I can easily spot a flat (3-3-5) correction based on Elliot Wave theory.

This tells me that a bullish impulse (5-3-5-3-5) should follow as shown on the chart.

The wave count is just for illustration purposes as the shape of the wave is quite unpredictable, the levels though are easier to predict.

So far we have the first and second waves complete and expecting the third wave which is normally the strongest in volume.

After the low was hit in November 2022 we see an increase in buy volume, this support the change of trend.

The RSI hit its lowest level ever and is now back in the green.

Namaste.