📆 Ethereum Weekly Update | 07 - 12 October
$ETH at 4,687 ⬆️ +3.97%
🧠 After reviewing some previously misunderstood concepts, the picture has become clearer:
Ethereum is currently unwinding the fifth wave of the intermediate cycle, which is the start of the first wave of a larger cycle – a sign of the approaching end of a phase in the bull market 📈
📊 Support Indicators:
- Momentum is increasing
- RSI touches strong buying areas
- Funding is positive
- Open interest is rising – smart money is entering the market
⚠️ If the price fails to maintain current levels, we may still be in the fourth wave ➡️ A 5-phase correction before any new surge
📅 Events this week:
- Thursday: Jerome Powell's speech 🗣️ – Expect market volatility
- Friday: Release of unemployment data 📉 – May affect price movement
🎯 Summary:
$ETH at a crossroads 🛣️
Current momentum is positive, but there is no room for complacency
Keep a close eye on the charts, and prepare your plan 📍
Follow channel #CryptoEmad for more analyses 🧠📡
