#Ethereum Price Analysis: Correction to $1,300–$1,500 Before Potential Rise to $2,500–$2,800
Let’s break down why Ethereum (ETH) might correct to the $1,300–$1,500 range and then potentially rise to $2,500–$2,800 (with increased risk beyond that).
Technical Analysis
On the ETH/USDC 5-day timeframe chart from Coinbase, key points confirm a correction to $1,300–$1,500:
1. Correction Target: $1,300–$1,500 ("Coinbase orders")
• Limit orders were placed on Coinbase before the drop.
2. Hyperliquid Liquidation Map
• According to the Hyperliquid Liquidation Map, the liquidation level for long traders is at $1,337.00, within the target zone of $1,300–$1,500.
• A price drop to this level could trigger a cascade of liquidations, and market makers might accumulate positions at the lowest prices, specifically in the liquidation area.
3. Elliott Waves
• We’re completing the 5th wave and starting to form a reversal. This event will roughly coincide with the S&P 500’s reversal.
What Event Could Trigger the Correction?
• An expected Bitcoin correction to $70,000–$76,000 could trigger Ethereum’s drop, as the altcoin market historically follows BTC.
• I’ve previously shared this Bitcoin idea; we’re waiting for it.
Potential Targets for Ethereum Before a Global Downturn
Look for an exit point in this area: $2,500.00–$2,800.00
➖ This is approximately the 61.8% Fibonacci level
➖ A significant area according to the Volume Profile
➖ Large sell orders on Binance at $2,500, $2,800, and $3,000
➖ On Coinbase, they’re getting smarter and splitting orders into 500–600 ETH.
➡️ In Summary for Ethereum
This makes the $1,300–$1,500 range attractive for buying the dip.
Let’s break down why Ethereum (ETH) might correct to the $1,300–$1,500 range and then potentially rise to $2,500–$2,800 (with increased risk beyond that).
Technical Analysis
On the ETH/USDC 5-day timeframe chart from Coinbase, key points confirm a correction to $1,300–$1,500:
1. Correction Target: $1,300–$1,500 ("Coinbase orders")
• Limit orders were placed on Coinbase before the drop.
2. Hyperliquid Liquidation Map
• According to the Hyperliquid Liquidation Map, the liquidation level for long traders is at $1,337.00, within the target zone of $1,300–$1,500.
• A price drop to this level could trigger a cascade of liquidations, and market makers might accumulate positions at the lowest prices, specifically in the liquidation area.
3. Elliott Waves
• We’re completing the 5th wave and starting to form a reversal. This event will roughly coincide with the S&P 500’s reversal.
What Event Could Trigger the Correction?
• An expected Bitcoin correction to $70,000–$76,000 could trigger Ethereum’s drop, as the altcoin market historically follows BTC.
• I’ve previously shared this Bitcoin idea; we’re waiting for it.
Potential Targets for Ethereum Before a Global Downturn
Look for an exit point in this area: $2,500.00–$2,800.00
➖ This is approximately the 61.8% Fibonacci level
➖ A significant area according to the Volume Profile
➖ Large sell orders on Binance at $2,500, $2,800, and $3,000
➖ On Coinbase, they’re getting smarter and splitting orders into 500–600 ETH.
➡️ In Summary for Ethereum
This makes the $1,300–$1,500 range attractive for buying the dip.
Trade active
The #Ethereum trade is still active, the targets remain the same.
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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.
Related publications
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.