Ethereum (ETH/USD) Elliott Wave Macro Analysis – Wave (3) Has Be

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.