📊 Ethereum (
$ETH ) Market Update – Trend Still Up
Ethereum has pushed above $4,700 and is holding above it, but price action can change quickly.
🔹 Trend:
Still firmly up since April breakout
Currently in circle wave 5 of larger Elliott Wave count
Short-term wave count: Wave 1 → Wave 2 → Wave 3 → Wave 4 → Wave 5 (in progress)
📈 Upside targets:
Next Fib resistance: $4,762
Then: $4,850
Wave 5 could extend toward $4,900
Larger target zone remains $5,800+ if wave structure completes
📉 Support zones:
Short-term: $4,452 – $4,597
Larger wave 4 pullback support: $3,350 – $4,018
Key strength level: $4,100 (staying above here shows strong trend)
⚠️ Risk:
Break below $4,452 → signals local top and deeper pullback
Market is moving fast — small time frame pullbacks can be shallow before continuation
💡 Takeaway:
ETH remains in an uptrend, with potential for higher highs before any larger pullback. Watch $4,452 as key short-term invalidation.
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