#MarketPullback 📉 $ETH Market Outlook
I continue to lean toward the idea that Ethereum is moving into a Wave 4 correction phase.
🔑 Correction zone: $4,285 – $3,535
📌 By Elliott Wave rules, corrections typically revisit the prior internal Wave 4 area → meaning we should expect at least a dip below $4,062.
Wave 4 phases often stretch out in time rather than depth, so a prolonged sideways consolidation seems the most probable outcome before the next leg higher.
👉 On my chart, I’ve also drawn an alternate path: if Wave 4 has already wrapped up, ETH could be heading straight into Wave 5, targeting $5,700 – $6,800. However, that scenario would likely mark the end of this bullish wave cycle, opening the door to a far larger correction afterward.
⚖️ Why I prefer the sideways Wave 4 case:
Wave 3 was already heavily extended, not the clean setup for a new 1–2 sequence.
Inside Wave 3, the stretch from Wave 4 to Wave 5 was unusually long → and extended 5th waves are a common feature within 3rd waves.