Ethereum has been moving in 3 wave corrective structures this entire bull market, possibly in an ending diagonal structure. Wave 4 (Green) most likely unfolded as a WXY Double Zig bottoming at the 1.618-1.786 trend based fib extension. Focusing on Wave 5 (Green), a common target of Wave 5 (Green) is the 1.618 to 1.786 fibbonaci retracement between $8,007 and $9,607.
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Zooming into the 1 HR timeframe, possible WXY double zig zag correction completed. 4 HR Shooting Star does signal potential short term weakness. Regardless, next major move up will occur soon.
Note
reuters.com/business/finance/societe-generale-launch-dollar-pegged-stablecoin-2025-06-10/Societe Generale becomes first major bank to launch dollar-pegged stablecoin! STABLECOIN SUPERCYCLE
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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.