Technical Analysis - ETH 01/04/2025

Quote: ~$1905

Recent movement: Clean breakout of $1840 with strength, testing $1900 now.

✅ 1. Elliott Waves

We probably finished Wave 5 down at $1740

Now ETH seems to be in Wave 3 up, with the breakout of $1840 serving as confirmation

Target for Wave 3 can be $1980–$2050

After that, Wave 4 (slight correction) before targeting $2200–$2300 in Wave 5

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✅ 2. Volume Profile

Highest trading volume was between $1780–$1840 (battle zone)

Now we have entered a low volume region up to $2000, which facilitates quick breakouts

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✅ 3. RSI + MACD

RSI: Above 70 on the 4H → overbought zone, but still with momentum

MACD: Crossed up with increasing histogram → strong uptrend confirmed

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✅ 4. Bollinger Bands

Bollinger opened upwards — typical of breakout

Price glued to the upper band, so we will either have:

Explosive continuation

Or a pullback to $1850–$1860

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✅ 5. Fibonacci (upward projection)

Using the base of the high (from $1740 to $1905):

0.382 Fibo: $1980

0.618 Fibo: $2050

Extension 1.0: $2200

Extension 1.618: $2400

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✅ 6. VWAP

Today's VWAP is at $1860 → if it corrects to this region, it's a great re-entry point

Those who entered at the $1840 breakout are riding the wave. Those who missed out, the next chance is on the pullback at $1860–$1850.

Short-term targets: $1980, $2050

Medium-term targets: $2200, $2400

Technical stop if entering now: below $1840