Ethereum Short-Term Long Trade Setup
Current Price: 2,474.65 (-3.16%)
ETHUSDT Perpetual: 2,473.76 (-3.14%)
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Ethereum (ETH) $ETH – Long Trade Perspective
Ethereum continues to be one of the more challenging assets to gauge in terms of directional momentum. Its recent price behavior has been marked by erratic moves, creating both uncertainty and potential for short-term traders due to the elevated volatility levels.
From a technical analysis viewpoint, Ethereum$ETH seems to have finalized its corrective B wave. Utilizing a trend-based Fibonacci extension method to evaluate the five-wave formation, this B wave ends around the 0.786 level. This specific extension point is a proprietary measurement developed by the Seovereign team, and has consistently performed well in real-time trading conditions.
To keep the chart clean and focused, only the key 0.786 Fibonacci level has been emphasized in this breakdown. For a closer look at all wave structures and ratios, refer to the annotated chart.
Projected Price Targets:
1st Target: 2,555
2nd Target: 2,589
3rd Target: 2,624
While Ethereum’s volatility offers considerable upside potential, it also reinforces the need for disciplined risk control. This price range is seen as a technically sound area to consider initiating a long position. Traders are advised to remain adaptable and use a well-defined strategy when engaging with the current market conditions.
