Ethereum nearing support, ready for a turnaround [Video]
![Ethereum nearing support, ready for a turnaround [Video]](https://editorial.fxsstatic.com/images/i/ETHEREUM_XtraLarge.png)
The short-term Elliott Wave analysis for Ethereum (ETHUSD) indicates that the cycle from the August 24, 2025 peak continues to unfold as a zigzag Elliott Wave structure. From that peak, wave A concluded at $4,214.14, followed by a wave B rally that reached $4,770.92. Ethereum then turned lower in wave C, which is developing as an impulse Elliott Wave structure. Within wave C, wave ((i)) ended at $4,429.03, and the subsequent rally in wave ((ii)) peaked at $4,649.37.
The cryptocurrency has since extended lower in wave ((iii)), hitting $4,074.40, with wave ((iv)) concluding at $4,208.33. Currently, wave ((v)) is underway and appears mature, suggesting it could end soon. As long as the pivot at $4,770.92 remains intact, further downside is possible. The target for wave C can be calculated using the 100% to 161.8% Fibonacci extension of wave A, measured from the August 24, 2025 peak. This projects a range of $3,553.64 to $4,013.04. Once Ethereum reaches this zone, it could reverse higher or at least rally in three waves. Traders should monitor this area for potential buying opportunities, as it may signal the end of the current corrective phase and the start of a new upward move.
Ethereum (ETH/USD) – 60-minute Elliott Wave technical chart
ETH/USD – Elliott Wave technical [Video]
Author
Elliott Wave Forecast Team
ElliottWave-Forecast.com
