#ETH4500Next?
🥳Summary: There is a positive indication of Ethereum, as technical and derivatives data indicate that it might break past levels in excess of 4000 dollars.💖
● A completed Wave 4 and bullish Fibonacci bounce signal ETH’s next leg higher is underway.
● There is a high capital inflow and positioning in the futures market, which supports the bullish run of Ethereum.
● Although it has experienced several rejections around the 4,000 mark, ETH trades at high lows—a pointer that could lead to a breakout.
⚫ There is a positive indication of Ethereum, as technical and derivatives data indicate that it might break past levels in excess of 4000 dollars. The price action aligns with wave theory and increasing open interest, signaling market strength. ETH is trading near $3,681, and a push toward $4,500 is becoming a key focus.
⚫ ETHUSD Shows Wave Structure Supporting Upside
⚫ The structure of the price movement of Ethereum shows that a full corrective Wave 4 is completed, and Wave 5 might be underway on the 3-day chart. Analysts point out that ETH pulled back at the 50 percent Fibonacci retracement as the past support is visible.
⚫ A zone of Fibonacci between 0.618 and 0.65 served as a bouncing zone, resisting the downward trend.
