Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave technical analysis [Video]

Daily chart (one-day analysis)

Function: Major Trend.

Mode: Motive.

Structure: Impulse.

Position: Wave 3.

Direction: Uptrend.

Details:

• Wave 3 is in progress and currently in its early stage, following the completion of a regular flat Wave 2.

• This indicates the start of the strongest segment within an impulsive wave.

• A breakout to new all-time highs is anticipated.

• Invalidation Level: $12.25

Hourly chart analysis

Function: Major Trend (Minor Degree – Grey).

Mode: Motive.

Structure: Impulse.

Position: Wave [5] of i.

Direction: Rally.

Details:

• Wave [4] of i appears complete; one final upward movement is expected to finish Wave i.

• Wave i is projected to terminate near the $26.00 mark, after which Wave ii is expected to start.

• Traders are advised to wait patiently through Wave ii to prepare a trading plan for the next rally.

• Invalidation Level: $12.25.

Conclusion

• ETHE has entered Wave 3, typically the strongest and most extended wave within an impulse.

• Wave i is likely to end around the $26.00 level, after which Wave ii should begin.

• This is an ideal time to prepare trading strategies for the upcoming impulse.

• Traders must closely adhere to Elliott Wave guidelines and monitor the invalidation level to reduce risks and avoid losses.

Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave technical analysis [Video]