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Ad
discliamer
Morbi
pretium
leo
et
nisl
aliquam
mollis.
Quisque
arcu
lorem,
ultricies
quis
pellentesque
nec,
ullamcorper
eu
odio.
Ethereum
is
showing
signs
of
a
majorbreakoutafter
flipping
a
corrective
price
channel.
This
shift
suggests
the
start
of
an
impulsive
wave,
signaling
potential
strong
upside
momentum.
Traders
should
watch
for
confirmation
above
key
levels
as
the
path
for
the
next
leg
up
begins
to
take
shape.
Wave
3
In
Motion:
Preparing
For
A
Strong
Upside
Move
Charting
an
expected
path
for
Ethereum
on
the
4-hour
timeframe,
Elliott
Waves
Academy
hasrevealeda
significant
opportunity
to
ride
a
new
bullish
wave.
The
price
appears
to
be
preparing
for
a
powerful
upward
surge
following
a
successful
breach
of
its
corrective
price
channel.
Related
Reading
From
Breakdown
To
Bottoming?
Ethereum
Tests
Key
High-Timeframe
Support2
days
ago
The
technical
structure
indicates
that
Ethereum
is
likely
forming
Wave
3
of
(3),
with
current
projections
showing
the
asset
reaching
a
minimum
161.8%
extension.
However,
the
internal
momentum
suggests
the
potential
for
the
move
to
extend
further,
signaling
that
a
major
impulsiverallyis
now
officially
underway.
Source:Chart
from
Elliott
Waves
Academy
on
XFrom
a
strategic
standpoint,
any
temporary
bearish
corrections
would
be
viewed
as
high-probability
opportunities
for
long
re-entries.
These
minor
pullbacks
serve
to
reset
local
indicators
while
the
primary
trend
remains
firmly
higher.
Traders
are
currently
eyeing
the
$2,624.14
level
as
a
primary
target,
with
the
possibility
of
a
move
toward
the
261.8%
extension
if
the
positive
momentum
remains
sustained.
To
validate
and
maintain
thisbullishscenario,
it
is
critical
to
see
a
confirmed
breakout
and
sustained
trading
above
the
previous
price
channel.
Staying
above
this
structural
boundary
will
reinforce
the
upward
outlook
and
provide
the
necessary
support
for
the
next
leg
of
the
rally.
Ethereum
Sweeps
Range
High:
Buyers
Step
In
According
toLennaert
Snyder,
Ethereum
recently
reached
its
all-time
high
and
liquidity,
setting
the
stage
for
a
notable
bounce
after
testing
the
extremes
of
its
current
range.
This
move
reflects
a
strongrecoveryfollowing
aggressive
price
action
and
shows
that
buyers
are
actively
defending
key
levels.
Related
Reading
Here’s
Why
Ethereum
Slipped
Below
$2,000
–
Details10
hours
ago
For
traders
looking
at
local
setups,
caution
is
advised.
Given
the
recent
massive
displacement,
it’s
best
to
wait
for
clearer
directional
signals
before
entering
positions,
ensuring
trades
align
with
confirmed
momentum
rather
than
chasingvolatility.
That
said,
the
liquidity
captured
during
this
sweep
opens
up
opportunities
for
hedge
strategies.
For
example,
a
short
position
on
the
opposite
side
could
help
mitigate
risk
while
waiting
for
the
market
to
stabilize.
Specific
levels,
such
as
the
50%
wick
fill
around
$2,110,
may
present
interesting
shorting
opportunities
after
a
bearish
MSB
forms.
Additionally,
similar
to
Bitcoin,
Ethereum
left
a
significant
Fair
Value
Gap
(FVG)
during
the
aggressive
leg
higher,
with
the
50%
level
of
this
gap
near
~$1,970.
Should
the
price
retest
this
FVG,
it
could
provide
a
favorable
setup
for
long
entries
following
a
reversal,
highlighting
potential
areas
for
strategicaccumulation.
ETH
trading
at
$1,875
on
the
1D
chart
|
Source:
BTCUSDT
onTradingview.comFeatured
image
from
Pixabay,
chart
from
Tradingview.com