The short-term Elliott Wave analysis for Ethereum (ETHUSD) indicates that a bullish cycle, initiated from the April 9, 2025 low, is unfolding as a five-wave impulse structure. Starting from this low, wave (1) concluded at $1,687.20, followed by a corrective pullback in wave (2) that ended at $1,473. Ethereum then resumed its upward trajectory in wave (3), reaching $2,738.90, as illustrated in the one-hour chart below. The subsequent wave (4) correction formed a double-three Elliott Wave structure.
In this correction, wave W declined to $2,478.80, followed by a recovery in wave X to $2,649. The corrective wave Y then completed wave (4) at $2,405.20. From this point, Ethereum has entered wave (5), advancing with an internal five-wave subdivision. Within wave (5), wave 1 peaked at $2,615.40 as a diagonal, with wave 2 retracing to $2,454. As long as Ethereum remains above the wave (4) low of $2,405.20, the outlook favors further gains. Additionally, while the pivot low at $1,753.60 holds, any pullbacks are likely to attract buyers in a 3, 7, or 11-swing pattern, supporting Ethereum’s potential to extend higher in the near term.
In this correction, wave W declined to $2,478.80, followed by a recovery in wave X to $2,649. The corrective wave Y then completed wave (4) at $2,405.20. From this point, Ethereum has entered wave (5), advancing with an internal five-wave subdivision. Within wave (5), wave 1 peaked at $2,615.40 as a diagonal, with wave 2 retracing to $2,454. As long as Ethereum remains above the wave (4) low of $2,405.20, the outlook favors further gains. Additionally, while the pivot low at $1,753.60 holds, any pullbacks are likely to attract buyers in a 3, 7, or 11-swing pattern, supporting Ethereum’s potential to extend higher in the near term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.