Elliott Wave analysis of Ethereum for 02/04/2019

Technical market overview:

The ETH/USD pair has broken above the technical resistance at the level of 145.09 and quickly went towards the level of 152.02, which was the next technical resistance. This is typical market behavior during the wave (3) development, so if the level of 152.02 is violated again, more upside moves should be expected. The next target would be seen at the level of 155.06.

Weekly Pivot Points:

WR3 - $163.07

WR2 - $154.26

WR1 - $146.96

Weekly Pivot - $137.84

WS1 - $131.51

WS2 - $121.49

WS3 - $115.39

Trading recommendations:

The nearest target at the level of $152.01 has been hit, so all buy orders should be closed with profit by now. Congrats to all global investors who took the trade!


The material has been provided by InstaForex Company - www.instaforex.com