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Will Ethereum Plummet to $1,800 or Soar to $6,000? Unraveling the Latest Wave Count Predictions!
In the dynamic world of cryptocurrencies, Ethereum continues its tumultuous journey under the $3,000 mark while Bitcoin approaches record highs. Presently, the Ethereum market portrays a bearish outlook, with frequent sell-offs at these levels hinting at potential further declines. Nonetheless, the possibility of a relief rally looms, contingent on the evolving market dynamics.
Crypto analyst Weslad has delineated the future trajectory of Ethereum using the ABCDE wave structure, suggesting a potential dip below $2,000. This analysis emerges amidst a backdrop where Ethereum once soared to a high of $4,851 in 2021. During that peak, a significant symmetrical pennant was observed, which appears to be playing out even up to 2025, suggesting a prolonged phase of price action.
The Bullish Scenario for Ethereum
Interestingly, Weslad believes Ethereum is in the midst of a long-term accumulation within a clearly defined corrective range. The formation of an ABCDE wave pattern is crucial here as it typically forecasts significant peaks and troughs. According to Weslad, Ethereum is currently in the ‘D’ wave, which is generally a bullish signal.
Currently, Ethereum’s price action is near the D wave’s apex, approaching the pennant’s upper boundary—a critical juncture that could dictate the next major price movement. Should this D wave culminate as anticipated, Ethereum’s price could climb beyond $3,500 before this particular pattern phase concludes.
Adding to the bullish sentiment is an emerging Inverse Head and Shoulders Pattern, with $2,855 acting as a formidable resistance level. A decisive break above this threshold, coupled with a successful exit from the D wave, could set the stage for Ethereum to reach new all-time highs, potentially surpassing $6,000.
The Bearish Perspective
Conversely, the ABCDE wave count does not solely signal bullish prospects. After the completion of the D wave, the subsequent E wave—characteristically bearish—could follow. A temporary rejection at either the neckline or the pennant’s resistance might trigger this E wave retracement, potentially crashing the price by over 30% to a support zone between $1,400 and $1,800.
Recent market behaviors, including compressed volatility and heightened buying interest during dips, reinforce the potential for an imminent directional breakout. Weslad cautions that a decisive move beyond this macro structure might herald a new era of long-term price expansion for Ethereum.
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In conclusion, Ethereum’s future price movement hinges on critical pattern developments and market responses. Investors and traders alike should monitor these indicators closely, as the next wave could either catapult Ethereum to new heights or plunge it into deeper valleys.
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