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Symbol: Ethereum (ETH) 🔔 Follow to receive alerts on our latest analyses. 🚀 Boosts help us bring you deeper insights across more assets! 📊 We regularly publish structured market reports and Elliott Wave-based analyses on the crypto market.
Hello and welcome—this is SEOVEREIGN. We believe Ethereum is currently trading within a favorable accumulation zone.
📍 Key Technical Highlights Primary Targets (TP1 & TP2) are based on Fibonacci retracement levels, specifically the 0.382 and 0.618 zones, which are clearly marked with orange lines on the chart.
From the Deep Crab harmonic pattern perspective:
A first attempt at trend reversal occurred at the 1.902 pivot, but failed to sustain.
The market is now attempting a second reversal from Point 2, a structurally more promising zone.
RSI bullish divergence has been confirmed, providing an additional signal of potential reversal momentum.
From an Elliott Wave standpoint:
The current price structure covers both the end of the C wave and a retest of the B wave high, forming a zone of dual technical relevance.
Statistically, C waves often measure 0.618x, 1x, or 1.618x the length of the preceding A wave.
In this case, the C wave equals 1.618 times the A wave— a classic, high-probability reversal structure that supports confident entry into long positions.
We will continue to monitor developments and provide timely updates as the market evolves.
Wishing you all successful trades— Thank you for reading.
BTC is currently trading within a well-defined descending channel, showing consistent lower highs and lower lows since mid-March.
Descending Channel: The upper and lower boundaries have acted as reliable resistance and support zones.Double Bottom Pattern: Price action recently formed a double bottom near the $75,000 zone (marked "HUNT2"), which is typically a bullish reversal signal.Breakout Target: The neckline breakout from the double bottom targets the $85,000–86,000 zone, which aligns with the upper boundary of the channel — a confluence resistance.Fakeouts (HUNT1 & HUNT2): These "hunt" zones likely represent liquidity grabs or stop-loss sweeps, indicating strong institutional manipulation before major moves.
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🔮 What's Next? 🎯 Bullish Scenario: After touching the lower level of the neckline, it goes to touch the top line of the channel and touches the target of the pattern. . ⚠️ Bearish Scenario: Rejection from the $85K zone could send BTC back down toward 73K–$ 74 K. Further downside could bring the $69K–$70K zone into focus.