$ETH quotes around 1,470 dollars, and according to Elliott wave theory, it is in a corrective phase within a larger structure. After a previous impulsive wave, the price seems to be developing a wave C, which could mark the end of the correction if it respects certain support levels. The key support is located around 1,400, while a recovery above 1,550 could indicate the beginning of a new bullish phase. It is important to complement this analysis with technical indicators and to be attentive to macroeconomic factors that may affect the direction of the market.