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$ETH in a Complex Correction – WXYXZ Pattern Explained

Technical Analysis ETH/USDT – Corrective Waves

(WXYXZ)

Time Frame: 4 Hours

Exchange: Binance

Technical Description

The price shows the formation of a complex corrective pattern of type Triple Three WXYXZ after a strong upward wave.

The last wave (X) was completed at the peak near $4,700, and the price began to decline in the targeted wave (Z).

We expect the correction to continue towards major support levels.

The last peak was at $4,700.

Trading Plan:

Sell Entry (Short): Between 4,300 – 4,400

First Target: $3,944

Second Target: $3,695

Third Target (Extended): $3,268

Stop Loss: Close above $4,700

Additional Technical Signal:

Fibonacci 61.8% intersects with the area of $3,950, reinforcing the strength of support.