Ethereum has recently completed the final leg of its ABC corrective structure, with the C-wave forming as a clear ending diagonal. This technical pattern often signals exhaustion in the current upward move and hints at a potential reversal.
With the structure now completed, a corrective move is likely. Current price action suggests that Ethereum could retrace toward the $4,000 support region, which aligns with both technical targets and key psychological levels.
📉 Trading Outlook:
Short-term traders should be cautious of potential downside volatility.
A corrective wave into the $4,000 zone may offer opportunities for repositioning or new entries depending on market reaction.
Risk management remains essential, as invalidation of the diagonal would occur if ETH pushes significantly higher without correction.
In summary, Ethereum’s Elliott Wave count points toward a possible short-term pullback before the broader trend becomes clearer. Traders should keep a close eye on the $4,000 level for signs of support and potential bullish re-engagement.
With the structure now completed, a corrective move is likely. Current price action suggests that Ethereum could retrace toward the $4,000 support region, which aligns with both technical targets and key psychological levels.
📉 Trading Outlook:
Short-term traders should be cautious of potential downside volatility.
A corrective wave into the $4,000 zone may offer opportunities for repositioning or new entries depending on market reaction.
Risk management remains essential, as invalidation of the diagonal would occur if ETH pushes significantly higher without correction.
In summary, Ethereum’s Elliott Wave count points toward a possible short-term pullback before the broader trend becomes clearer. Traders should keep a close eye on the $4,000 level for signs of support and potential bullish re-engagement.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
đź’Ľ Professional market insights & charts:
cakirinsights.com/
cakirinsights.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.