Ethereum is presently positioned above a pivotal support line that delineates the current trend. Recently, the coin experienced a rejection from its proximate resistance level.
Anticipation of a subsequent rejection upon a retest of this level is warranted. Should this rejection materialize, focus should pivot to the immediate BUY BACK ZONE for potential re-accumulation strategies. The aforementioned trend-defining support line is recognized as a substantial level of interest; while it is expected to sustain price levels, a breach below this threshold would necessitate reliance on the underlying strong demand zone to uphold the asset's value.
Subsequent to stabilizing within this demand zone, the target shifts towards surpassing the current all-time high (ATH), with the current price action suggesting the formation of a potential 'cup' pattern.
Additionally, analysis of the wave pattern within this context reveals the completion of waves one through four, setting the stage for the initiation of the fifth and final wave. This development is pivotal for the formation of the concluding leg of the wave sequence.
Engagement through likes and comments on this analysis is highly valued and appreciated. Thank you for your attention and contributions.
Anticipation of a subsequent rejection upon a retest of this level is warranted. Should this rejection materialize, focus should pivot to the immediate BUY BACK ZONE for potential re-accumulation strategies. The aforementioned trend-defining support line is recognized as a substantial level of interest; while it is expected to sustain price levels, a breach below this threshold would necessitate reliance on the underlying strong demand zone to uphold the asset's value.
Subsequent to stabilizing within this demand zone, the target shifts towards surpassing the current all-time high (ATH), with the current price action suggesting the formation of a potential 'cup' pattern.
Additionally, analysis of the wave pattern within this context reveals the completion of waves one through four, setting the stage for the initiation of the fifth and final wave. This development is pivotal for the formation of the concluding leg of the wave sequence.
Engagement through likes and comments on this analysis is highly valued and appreciated. Thank you for your attention and contributions.
Trade active:
Eth continues its journey with its ultimate target remain $4840 area, now we have change in buy back area as presented on the chart.
Trade active:
ETH is nearing a robust supply zone, mirroring BTC's behavior, adding an intriguing dimension to the market dynamics. Exercise patience and closely observe their reactions in this critical juncture. Key levels to monitor include: 3550, 4840, and 7780.
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Trade active
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Official Channel: t.me/+m0IACMn0ul03OTFk ✅
REAL Weslad: t.me/WESLAD ✅
For premium Zone: t.me/wcsepayment ✅
@WESLAD WILL NOT SEND YOU MESSAGE FIRST. ❌