Ethereum (ETH/USD) Elliott Wave Macro Analysis – Wave (3) Has BeCOINBASE:ETHUSD
🔵 Macro Count Overview
Ethereum has been unfolding a clean macro impulsive structure since the 2021 high and 2022 low:
November 2021: Major Wave ① top
June 2022: Bear market bottom, forming Wave ②
From there, we began a new impulsive cycle with a clear internal structure:
→ 1-2-3-4-5, which completed Wave (1) in December 2024
🟢 Recent Developments – The Foundation for Wave (3)
Over the last few weeks, Ethereum has formed a textbook Wave (2) bottom.
The correction respected the Fibonacci retracement zones perfectly and provided a strong base.
We’ve already seen a clean breakout to the upside, signaling that Wave (3) may now be underway.
🟨 What’s Next – Building Wave (3)
We are now likely in the early stages of Wave (3), which is expected to unfold in a yellow internal 1-2-3-4-5 structure.
This sequence will drive the price into significantly higher zones, confirming the start of a powerful bullish leg.
🎯 Target Zone for Wave (3):
$6,600 – $7,200
Based on Fibonacci extensions of the prior impulse (Wave 1)
Potential for higher extensions if momentum and volume align
Psychological resistance may act as short-term hurdles, but structure points higher
✅ Conclusion
Ethereum has completed its macro Wave (2) correction and is now gearing up for an extended Wave (3). With a breakout already underway, the internal structure points to a 5-wave advance likely aiming for $6,600–$7,200 or higher. As long as recent lows hold, this scenario remains firmly in play.
