Sideways Still in Play for ETH After RejectionIf you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Recap
Ethereum just tapped into a key Area of Interest and got rejected. The move confirmed short-term resistance while keeping the broader wave structure intact. Although no clear breakdown has followed, the rejection signals that the asset is still mid-cycle.
The expectation now is for a sideways consolidation. This aligns with a developing wave 4, but the price action ahead will determine how this structure unfolds.
Wave Structure
At present, the count favors a completed wave 3 followed by a wave 4 that is still forming. The rejection at the AOI fits the narrative of a corrective structure underway. Whether that plays out as a triangle or a flat will depend on how the next legs print.
Key markers are in place:
AOI was respected
No breakdown of the prior key support level
Above the 0.382 to 0.5 retracement zone remains in focus as a reaction area
Should price expand beyond typical retrace/time boundaries, the degree of the count may need to be adjusted. A more complex correction or a deeper reset could shift the current interpretation from a wave 4 into something more substantial.
Outlook
• Rejection confirms resistance
• Expecting sideways movement to continue
• Watching the 0.382 to 0.5 zone for key price behavior
• Price action will determine the next wave structure
• If momentum expands rapidly, degree reassessment is on the table
Ethereum’s current posture suggests a market in digestion mode. Whether this leads to a launch into wave 5 or deeper corrective behavior, the next prints will be critical. No confirmation of bullish continuation yet.
More updates soon as the next leg develops.
Trade safe, trade smart, trade clarity.
