$ETH

📊 Elliott Wave Analysis – 4 Hour Interval

✅ The current situation: the most important thing is to stay above 2500

The price is currently within wave (3) of a major bullish wave that started from the last historical low of ~1,530, following the end of a major corrective wave at the level of ~2,405.

🔹 Wave sequence on the 4-hour chart:

1. Wave (1): Started from 1,530 to about 2,720 approximately.

2. Wave (2): Corrected sharply towards 2,405.

3. The current wave (3): Started from 2,405 and is now moving upwards, with the possibility of having sub-waves within it.

🔍 Current wave in detail

• We are now in the middle of wave (3), likely within sub-wave 3 or the beginning of sub-wave 5.

• The entry area at 2,500 is excellent as it came after the end of wave 2 (the corrective one).

• As long as the price maintains support at 2,405–2,470, the trend remains bullish.

📌 Summary:

• On the 4-hour chart: the price is in wave (3) of a major bullish wave.

• The price entered from a logical bottom (2,500) after the end of corrective wave (2).

• Wave (3) initially targets 2,738, then 2,850, and may extend to 2,900.

• Breaking 2,850 will support the possibility of reaching wave (5) at 3,000–3,120.