The post ABBV Elliott Wave technical analysis [Video] appeared on BitcoinEthereumNews.com.

ABBV Elliott Wave analysis Function: Counter Trend. Mode: Corrective. Structure: ZigZag. Position: Wave 3 of (A). Direction: Downside within wave (A). Details: Anticipating continued movement lower within Intermediate wave (A), targeting the previous fourth wave near $165. The sharp decline indicates early stages of a potential trend, justifying the wave (A) designation. ABBV Elliott Wave analysis Function: Counter Trend. Mode: Corrective. Structure: ZigZag. Position: Wave {iii} of 3. Direction: Downside in wave 3. Details: Looking for a continuation lower within wave {iii}, nearing a short-term bottom. Expecting minor three- and four-wave structures to follow as wave (A) develops. ABBV summary ABBV is currently showing a pronounced move down in both daily and 1-hour charts, suggesting a deeper ZigZag correction in play. Positioned in wave 3 of Intermediate wave (A), price action is aligning with expectations of further downside toward the $165 level. Momentum supports the idea that wave (A) could be the beginning of a larger correction. In the 1-hour chart, wave {iii} of 3 is progressing, with pullbacks likely to present short-term trading opportunities as the broader structure unfolds. Technical analyst: Alessio Barretta. ABBV Elliott Wave analysis [Video] Source: https://www.fxstreet.com/news/abbv-elliott-wave-technical-analysis-video-202504090948

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Filed under: News - @ April 9, 2025 10:21 am