TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Ethereum has still chance to hit 5k area: Elliott Wave analysis

Ethereum has still chance to hit 5k area: Elliott Wave analysis
Gregor HorvatGregor HorvatWavetraders

Despite Ethereum making new intraday highs, Crypto's total market cap has still three waves up from the lows only, so carefully with any bullish view at this stage. However, ETH is one of the strongest and on its own way, so there's still a chance to hit 5k area, but only until is above 3500 level and if BTC and other ALTs will stay in sideways consolidation.

As per Elliott Wave, ETHUSD may have now a leading diagonal within wave (A) on the intraday basis, so we can expect a bigger recovery for wave (C) after a three-wave A-B-C setback in wave (B). Ideal support is around 4000 level, while invalidation level remains at 3500.

Ethereum 1h Elliott Wave analysis

Ethereum Elliott wave analysis

Check more of our analysis for currencies and cryptos in members-only area. Visit Wavetraders for details!

Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

More from Gregor Horvat
Share:

Editor's Picks

Crypto Overview: Bitcoin remains vulnerable – Venice, Sky extend gains

Crypto Overview: Bitcoin remains vulnerable – Venice, Sky extend gains

Bitcoin hovers above $64,000 facing persistent headwinds amid hopes of a potential bullish reversal. Crypto market sentiment shows early signs of shifting away from risk-averse conditions, while Venice Token (VVV) and SKY are leading gains over the past 24 hours.

Top 3 Price Prediction: BTC breaks 50-day EMA, ETH near critical resistance, XRP hints mild recovery

Top 3 Price Prediction: BTC breaks 50-day EMA, ETH near critical resistance, XRP hints mild recovery

Bitcoin shows early signs of recovery, trading around $63,400 after a 2.9% gain and a close above key resistance earlier this week. Ethereum continues to trade sideways, nearing the upper consolidation range near $1,919, where a close above this level suggests a rally ahead.

Ethereum Price Forecast: Investors remain on the sidelines

Ethereum Price Forecast: Investors remain on the sidelines

Ethereum continued its consolidation pattern over the past week with several key on-chain and derivatives metrics indicating traders remain hesitant to return to the market. The holdings across several wallet cohorts remained largely unchanged over the past week. Wallets holding 10K-100K ETH, also classified as whales, saw modest inflows of only 10K ETH.

SEC proposes 'Regulation Crypto Assets' to clarify fundraising rules for crypto firms

SEC proposes 'Regulation Crypto Assets' to clarify fundraising rules for crypto firms

The US Securities and Exchange Commission (SEC) on Tuesday proposed "Regulation Crypto Assets," a new regulatory framework for certain crypto asset investment contracts. The proposal outlines exemptions that would allow eligible issuers to raise capital without registering offerings under the Securities Act.
Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin (BTC) trades around $62,900 at the time of writing on Friday, down over 3% so far this week amid cautious institutional demand and persistent geopolitical uncertainty. While BTC shows signs of stabilization, elevated Oil prices and tensions in the Strait of Hormuz continue to weigh on risk sentiment, keeping the Crypto King’s near-term outlook under pressure.