strong buy
Ethereum Signal: Watch Key Fibonacci Zones for Trend Reversal
The analysis indicates that Ethereum has completed a five-wave upward move upon reaching a peak of $2870, after which it entered a correction phase driven by liquidity collection. The price then descended to around $2100, finishing an ABC corrective wave, and now shows signs of initiating a new impulsive wave. The ideal point to conclude wave 2 of this new sequence is near the Fibonacci retracement zone starting at approximately $2300. Should Ethereum fall below the $2100 support, it would signal a failure of the current upward momentum. Conversely, a rally from this level would require breaking the last dynamic resistance, suggesting potential upward movement.
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AI Analysis
The provided analysis employs Elliot Wave principles to interpret Ethereum's recent price movements. It suggests that Ethereum's prior peak at $2870 marked the completion of a five-wave impulse, follo...
AI Recommendation
Traders and investors should monitor Ethereum’s reaction around the $2100 support and the $2300 Fibonacci zone. A bounce from these levels, coupled with a break of dynamic resistance, would strengthen...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.