Ethereum (ETH) Elliott Wave Market Analysis – Daily Outlook
Chart Structure & Market Overview:
ETH is currently in a consolidation phase at high levels following a possible low on April 7th.
The recovery from that low has formed a three-wave structure, which is not yet confirmed as a full bullish impulse.
We are potentially in a wave C of an A-B-C pattern, but for confirmation, ETH needs to form 5 waves up.
Current Status:
ETH failed to break the 123.6% Fibonacci extension but is holding above micro support at $1813.
Price is consolidating, and momentum is weakening, indicating hesitation before a final push.
Critical Levels to Watch:
Micro Support: $1813
Structural Support: $1733 (Wednesday’s low)
Bullish Target Zone: $1925
Key Resistance: $1925
Breakout Confirmation: Clean 5-wave structure above $1925
Bearish Invalidator: Sustained drop below $1733
Trade Plan (Short-Term Setup):
Long Setup (if support holds):
Entry: $1820–$1835 (on consolidation and confirmation above micro support)
Stop-Loss: Below $1730 (beneath structural support)
Target 1: $1890
Target 2 (final): $1925
Alternative Bearish Setup (if $1733 fails):
Short Entry: On breakdown below $1730 with volume
Stop-Loss: Above $1765
Target: $1650–$1675 (retest of broader support zone)
Summary: Ethereum is showing short-term bullish potential if it maintains key support, but lack of impulsive follow-through and weakening momentum means caution is warranted. A final push toward $1925 may complete the current wave, after which a Wave 4 correction is expected.
#Ethereum #MarketAnalysis #CryptoNews #MarketUpdate #trading
