Ethereum Low Time Frame Analysis (Detailed)

Current Market Situation:

Ethereum is currently in the final stages of a significant ABC correction that began after the March high. We are now within Wave C of this correction, and specifically within Wave 5 of the C wave. On a higher time frame, the corrective structure is nearing completion, but there is still room for a lower low as we finalize this move.

Wave Breakdown (High Time Frame):

• Wave A and Wave B of the ABC correction have already been completed, and we are now working through Wave C.
• Within Wave C, Ethereum is currently in Wave 5, which is the final wave of this corrective sequence. This wave is expected to push prices lower before finding a bottom.

Current Position (Lower Time Frame):

• On the lower time frame, Ethereum is in Sub-Wave 4 of Wave 3. This means that we are currently experiencing a short-term corrective rally before a further decline to complete Wave 3.
• Fibonacci levels have been reached in this corrective rally, and we are closely watching for a trend reversal to signal the start of Sub-Wave 5, which will likely lead to a new low.

In the chart above, you can observe how Ethereum is nearing the end of Wave 4 and preparing for the final push lower in Wave 5. The Fibonacci resistance levels have been reached, and we expect the rally to be capped at this level before continuing downward.

Short-Term Outlook:

• Sub-Wave 5 of Wave 3 is expected to bring Ethereum down to its final support levels. The target for Wave 3 is projected to be around $1,950 – $2,000.
• The current relief rally in Wave 4 should soon come to an end, marking the start of the final decline in Wave 5.

Larger Trend:

• Ethereum is in the final leg of a larger ABC correction that began after the March top. Once Wave 5 completes, we expect the correction to end, and Ethereum should find a solid bottom.

The image above shows the broader Wave C correction in progress. Ethereum is completing the final Wave 5 within this structure, and we anticipate a bottoming process to occur soon.

Key Levels to Watch:

• $1,900 – $2,000: This is the critical support zone where we expect Ethereum to find a bottom and complete Wave 5 of the correction.
• $2,350 – $2,400: This is the Fibonacci resistance zone that should cap the short-term rally within Sub-Wave 4. A rejection from this level will likely trigger the final decline to complete Wave 3.

Conclusion:

Ethereum is in the final stages of a Wave C correction, with Sub-Wave 4 currently providing a short-term relief rally. Once Sub-Wave 5 begins, we expect a final of Wave 3 decline to $1,950 – $2,000, marking the end of the correction. After this, Ethereum is likely to find support and begin a new upward trend.

This detailed analysis provides a clear outlook on Ethereum’s corrective structure and expectations for both the short-term and long-term price action.