Ethereum seems to be grinding through a corrective pullback, and the price action around 4K is shaping up to be the next major test. If this dip continues to unfold in a corrective fashion, the area of interest (AOI) and levels of interest (LOIs) shown on the chart are where I’ll be watching closely.
The wave count remains clean here. We’ve got confluence stacking around the 4K region, with support zones lining up against standard Fibonacci retracement levels. If price tags those areas while printing corrective structure, it keeps the bigger bullish roadmap intact.
On the upside, 4.5K is the level that keeps capping bulls. Ethereum’s failed attempts to break through highlight its strength as resistance. If price makes another push and finally clears that ceiling, I’d have to reassess whether I’ve leaned too bearish in this pullback. A decisive reclaim would show just how much momentum buyers have left in the tank.
Key Outlook:
4K region = next AOI for a corrective test
3,888 and 3,502 = deeper LOIs if selling pressure extends
4.5K break = potential shift back into aggressive bullish territory
For now, patience is key. If ETH prints corrective structure into these downside levels, the larger Elliott Wave framework still points toward a bullish continuation. But without a strong break above 4.5K, the market hasn’t proven the bulls are back in control....yet
The wave count remains clean here. We’ve got confluence stacking around the 4K region, with support zones lining up against standard Fibonacci retracement levels. If price tags those areas while printing corrective structure, it keeps the bigger bullish roadmap intact.
On the upside, 4.5K is the level that keeps capping bulls. Ethereum’s failed attempts to break through highlight its strength as resistance. If price makes another push and finally clears that ceiling, I’d have to reassess whether I’ve leaned too bearish in this pullback. A decisive reclaim would show just how much momentum buyers have left in the tank.
Key Outlook:
4K region = next AOI for a corrective test
3,888 and 3,502 = deeper LOIs if selling pressure extends
4.5K break = potential shift back into aggressive bullish territory
For now, patience is key. If ETH prints corrective structure into these downside levels, the larger Elliott Wave framework still points toward a bullish continuation. But without a strong break above 4.5K, the market hasn’t proven the bulls are back in control....yet
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Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Related publications
Disclaimer
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.
More on the TradeDevils Discord discord.gg/p9bjnpwnMc
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Trade Devils University Sensei: tradedevils.com/my-account/?ref=ebquu4
Certified Elliott Wave Analyst Master: t.co/2GQ7uSjJVG?amp=1
Related publications
Disclaimer
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.