▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Ethereum is currently fighting with a major trend line after breaking above resistance and coming back for a retest. In this video, we take a look at the ETH chart across multiple timeframes and discuss whether Ethereum is preparing for another move higher in the current B-wave rally.
We analyze the larger Elliott Wave structure, key support and resistance levels, and the short-term setup that could open the door toward the $2,650 region and potentially higher. We also take a look at the MCO Cycle Analyzer and discuss why Ethereum’s current rally phase may continue into June before a larger correction becomes relevant again.
TIMESTAMPS:
00:00 Ethereum breaks above key trend line
00:32 Why this trend line matters so much
01:05 Bigger picture Elliott Wave structure
01:40 Is this rally unusual for a bear market?
02:20 Comparing the current ETH rally to 2022
03:05 Key upside targets for Ethereum
03:30 Ethereum cycle analysis explained
04:15 Why the rally could continue into June
04:55 What could happen later this year
05:15 Short-term ETH chart analysis
05:45 The ideal target around $2,650
06:20 Ethereum retests the trend line
06:55 Key breakout level at $2,425
07:20 Important support zone to hold
08:05 Main Elliott Wave scenarios explained
08:55 Final thoughts and outlook
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▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Youtube version
