Ethereum (ETH) Market Update – May 11, 2025
Ethereum has completed a full ABC corrective wave structure from the April low, with Wave C hitting the critical resistance zone of $2,594–$2,775. This suggests a potential local top, though an extended push to the 161.8% Fib level at $2,775 remains possible.
Trade Setup (Short-Term Swing Trade)
Entry (Short Position): Between $2,600–$2,750, preferably after a rejection or reversal signal.
Stop Loss: Above $2,800
Targets:
TP1: $2,300
TP2: $2,160 (confirmation of Wave B start)
TP3: $1,850
TP4: $1,600 (if deeper correction plays out)
Bullish Scenario (Long Position Setup)
If ETH corrects and finds support above $1,584, a bullish C-wave rally toward $3,000+ could follow.
Long Entry: $1,600–$1,700 (with bullish confirmation)
Stop Loss: Below $1,580
Target: $2,800–$3,000+
Market Bias: Neutral short-term with rising correction risk. Break below $2,160 confirms the start of a larger Wave B pullback.