ETH Adjustment Wave Prediction (8/19/2025)
I just want to explain what Tom Lee's chart analyst Mark Newton said, which I shared a week ago. At that time, he believed ETH could surpass its previous high and reach 5095, then pull back. Although ETH did not create a historical high this time, it got very close. Currently (on 8/18), Mark Newton believes that 'Ethereum is undergoing a minor correction - pullback to $4,075-$4,150 by midweek.' Last week, he mentioned that the adjustment would be between 23.8%-38.2%. The chart here compares the previous high with the height before this drop, using the closing price. A Fibonacci sequence is also included. It seems that his forecast for the adjustment range has slightly decreased compared to a week ago. However, 23.8%-38.2% as the second wave adjustment is still acceptable. From the wave counting perspective, the i-ii-iii-iv-v I have on my chart may not be the final count, as this v could just be iii. If this adjustment is very small, followed by a quick rebound, it is possible that the currently marked iii is extending with its own 1-2-3-4-5, and the v on the chart is 3, with the current adjustment merely being a correction of 3. We will need to wait until the adjustment ends to see. The ETH price is being held back by the 13-day moving average. If it breaks below, it will touch the 34-day moving average. On the technical indicators, the red-green indicators are both trending bearish, and when they start to approach each other, the situation may become complicated. Dating is not that easy. Other stocks related to the crypto circle are likely to follow a similar direction.
