Technical analysis by SignalsProvider about Symbol ETH: Sell recommendation (9/4/2024)

The chart for ETHUSD (Ethereum vs. US Dollar) indicates a potential short opportunity. According to the Elliott Wave analysis displayed, the price has completed a five-wave structure and seems to be in a corrective phase. The Fibonacci levels suggest that wave (5) might reach key support levels at:- 0.250 Fibonacci retracement at 2413.56- 0.5 Fibonacci retracement at 2409.74- 0.618 Fibonacci retracement at 2397.40These levels might serve as targets for the downward move in the correction phase. If you're considering a short position, these could be possible take-profit levels, while a stop loss could be set above recent highs to manage risk.