ETHUSDT 4H | Analysis Update

✅ #ETHUSDT 4H | Analysis Update

📉 #Ethereum | Corrective Phase & ABCDE Structure Formation

🔸 Analysis:
Ethereum is currently in a corrective phase, forming an ABCDE structure. The longer the price consolidates within this range, the stronger the support level becomes, increasing the likelihood of a bullish breakout. This movement closely aligns with Bitcoin’s trend and is significantly influenced by it.

🔹 Mid-term Support: $2,800 – A positive reaction at this level could signal a potential upward move.
🔹 Price Target: $4,800 – If the corrective structure completes and an uptrend begins, this level may serve as the final growth target.

💡 Key Insights:
🔸 The support of altcoins should be evaluated in relation to Ethereum’s support, as their movements are highly correlated.
🔸 If Ethereum holds the $2,800 level, other altcoins are likely to avoid deeper corrections.

📅 Feb 6, 2025
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