🚨 Ethereum Market Update 🚨
$ETH showed a strong upside reaction today, pushing closer to all-time high territory (ATH at ~$4,850). Despite bearish calls, the bullish thesis remains intact:
🔹 Bulls’ Case
Current move fits into a larger wave 5 structure.
Another high toward $5,800 still likely this cycle.
Support zone: $3,374 – $4,461 (wave 4 support).
🔹 Short-Term View
Today’s rally held support at $4,436 ✅.
As long as this support holds, focus stays on higher prices.
Next resistance: $4,674, followed by August swing high & ATH (~$4,850).
Momentum break would only be confirmed if ETH drops below the 50% Fib retracement.
⚠️ Reminder: This push could still be a B-wave rally, meaning risks of a corrective pullback remain. But until support breaks, the path of least resistance is UP. 🚀