Ethereum — The Big Wave Towards New Highs, Bullish 10k?📝 Full Analysis
Ethereum (ETH/USDT) on the 1W timeframe is showing a clear 5-wave Elliott Impulse structure. Currently, price is assumed to be in the (4) corrective phase after wave (3) peaked around the 4.9k–5k zone.
Wave (4) is now retesting the critical support zone between 3.21k – 3.54k, which perfectly aligns with the Fibonacci retracement 0.5–0.618 levels. This area also acts as a key demand zone (previous resistance now flipping into support).
If this zone holds, ETH is well-positioned to start wave (5), targeting new all-time highs. But if this level breaks, ETH could fall into a much deeper corrective scenario.
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🔑 Key Levels on the Chart
Main Support (yellow zone):
0.5 = 3,541
0.618 = 3,210
Bullish Extension Targets (Wave 5):
0.5 = 4,940
0.618 = 5,272
1.0 = 6,345
1.618 = 8,082
2.618 = 10,891
These are not just Fibonacci levels, but psychological points where the market often decides whether to continue or reverse.
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📈 Bullish Scenario
1. Support 3.21k–3.54k holds → confirms wave (4) completion.
2. ETH prints a weekly rejection candle or bullish engulfing → buyer strength confirmed.
3. Breakout above 4.95k activates bullish momentum with staged targets:
Target 1 → 5.27k (0.618 extension)
Target 2 → 6.34k (1.0 extension)
Extended Target → 8.08k (1.618 extension)
Maximal Target → 10.9k (2.618 extension, potential new ATH)
4. Wave (5) is often accompanied by volume surge & market euphoria → a prime opportunity for swing traders and mid-term investors.
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📉 Bearish Scenario
1. ETH closes below 3.21k weekly → weakens bullish wave structure.
2. Possible deeper retracement:
2.13k (0.5 retracement from macro impulse)
1.95k (0.618 retracement)
3. If ETH breaks below ~1.95k, the 5-wave Elliott structure becomes invalid, and the market could enter a prolonged accumulation/sideways phase similar to 2018–2019.
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🔍 Pattern Breakdown
Elliott Impulse Wave (1–5) with strong extended wave (3).
Fibonacci retracement & extension for precise S/R validation.
Resistance → Support Flip Zone (3.2k–3.5k).
Potential Bullish Flag Structure (macro) if wave (4) is confirmed as a healthy correction.
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🎯 Extra Insights
Wave (5) is usually shorter than wave (3) if wave (3) was already extended → realistic target sits around 6.3k–8k.
If crypto market euphoria (ETH ETF narrative, altseason) kicks in, then 10k+ ETH becomes a valid macro target.
Caution: wave (4) often forms complex corrections (flat/triangle), meaning sideways consolidation before the breakout.
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🛡️ Trading Notes
Conservative entry: wait for weekly rejection confirmation at 3.2k–3.5k.
Aggressive entry: buy the dip in support zone with tight stop below 3.2k.
Breakout entry: wait for breakout + retest above 4.95k.
Take profit progressively: 5.2k → 6.3k → 8k.
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Ethereum Weekly is forming a 5-wave Elliott Impulse. Currently, price is testing the critical support zone at 3.21k–3.54k.
If this zone holds → ETH is ready for wave (5) rally targeting 5.2k → 6.3k → 8k → even 10.9k.
If this zone fails → ETH risks a deeper correction towards 2.1k–1.95k.
This is the decisive moment for ETH: either break into new ATHs or enter a prolonged correction.
Not financial advice — manage your risk.
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