Ethereum (ETHUSDT) – Elliott Wave & Fibonacci Technical Outlook
ETH has completed a clear 5-wave impulsive structure followed by an ongoing ABC corrective pattern on the daily timeframe.
Currently, price is testing the 78.6–100% Fibonacci retracement zone ($3,400–$3,700) — a key area that often marks the end of wave C and the start of a potential new impulsive wave.
Bullish Scenario:
If ETH confirms support above $3,400 with a strong bullish reversal candle and increasing volume, it may trigger a recovery toward $3,800 → $4,200 → $4,700.
Breaking above $4,200 would further validate the bullish continuation setup.
Bearish Scenario:
A daily close below $3,400 would invalidate the bullish wave count and could extend the correction toward lower structural supports.
Key Levels
Support: $3,400 – $3,700
Resistance: $3,800 / $4,200 / $4,700
Stop-loss (for long setups): Below $3,350
Overall, ETH is approaching a critical decision zone — watch for confirmation signals before positioning for the next leg.
#ETH #Ethereum #Crypto #TechnicalAnalysis #ElliottWave #Fibonacci #TradingView #CryptoTrading #BTC #ETHUSDT
Currently, price is testing the 78.6–100% Fibonacci retracement zone ($3,400–$3,700) — a key area that often marks the end of wave C and the start of a potential new impulsive wave.
Bullish Scenario:
If ETH confirms support above $3,400 with a strong bullish reversal candle and increasing volume, it may trigger a recovery toward $3,800 → $4,200 → $4,700.
Breaking above $4,200 would further validate the bullish continuation setup.
Bearish Scenario:
A daily close below $3,400 would invalidate the bullish wave count and could extend the correction toward lower structural supports.
Key Levels
Support: $3,400 – $3,700
Resistance: $3,800 / $4,200 / $4,700
Stop-loss (for long setups): Below $3,350
Overall, ETH is approaching a critical decision zone — watch for confirmation signals before positioning for the next leg.
#ETH #Ethereum #Crypto #TechnicalAnalysis #ElliottWave #Fibonacci #TradingView #CryptoTrading #BTC #ETHUSDT
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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.