⚙ Overview

Ethereum ($ETH ) is showing early signs of recovery on the daily timeframe, though the move remains fragile. After last week’s low, we’ve seen a few attempts to push higher, but the structure is still unclear and not convincingly impulsive yet.

We could be in the early stages of Wave v to the upside — but confirmation is still lacking.

📉 The Wave iv Correction

The Wave iv pullback began around August 14 and has kept $ETH in a sideways correction for nearly two months.

The October 10 crash was sharp, but within the expected corrective framework — nothing unusual for a Wave iv.

We may have already seen the bottom of this Wave iv, but it’s too early to confirm.

📈 Possible Start of Wave v

Ethereum has started to recover slightly, but as of now, price action lacks impulsiveness. We remain flexible in our outlook.

If this truly is Wave v, it could unfold as an ending diagonal, meaning the subwaves might all be 3-wave (ABC) structures instead of clean impulsive waves — making the micro-structure difficult to track.