ETH/USDT Potential Wave 5 Rally – Targeting $3560 to $3700!
🚀 ETH/USDT Potential Wave 5 Rally – Targeting $3560 to $3700! 🚀
Ethereum has recently completed a corrective ABC structure, retracing from $3449 down to $3016, which appears to have marked the end of Wave 4. Following this correction, ETH seems poised for a breakout on the lower timeframes, which would confirm the start of Wave 5.
Key Insights:
Wave 5 Formation: After the corrective dip, ETH is set to resume its bullish trend with Wave 5, targeting a minimum extension of 1.272 based on the move from Wave 3 to Wave 4. This suggests a target around $3560 as a conservative estimate, with potential upside reaching $3700.
Entry and R/R: With an entry at $3060, the risk-to-reward ratio (R/R) remains attractive, estimated around 5.15 if the breakout completes. This setup offers a favorable trade opportunity with clear upside targets.
Price Targets:
📈 Conclusion: ETH looks ready to rally into Wave 5 after confirming the breakout. Aiming for $3560+ with an optimal R/R of 5.15, this setup presents a solid opportunity for bulls. Let's see if ETH can ride the next wave up!
⚠️Disclaimer:⚠️
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
Ethereum has recently completed a corrective ABC structure, retracing from $3449 down to $3016, which appears to have marked the end of Wave 4. Following this correction, ETH seems poised for a breakout on the lower timeframes, which would confirm the start of Wave 5.
Key Insights:
Wave 5 Formation: After the corrective dip, ETH is set to resume its bullish trend with Wave 5, targeting a minimum extension of 1.272 based on the move from Wave 3 to Wave 4. This suggests a target around $3560 as a conservative estimate, with potential upside reaching $3700.
Entry and R/R: With an entry at $3060, the risk-to-reward ratio (R/R) remains attractive, estimated around 5.15 if the breakout completes. This setup offers a favorable trade opportunity with clear upside targets.
Price Targets:
- Wave 5 Minimum Target: $3560 (1.272 Fibonacci extension).
- Higher Target Zone: $3700 if momentum accelerates.
📈 Conclusion: ETH looks ready to rally into Wave 5 after confirming the breakout. Aiming for $3560+ with an optimal R/R of 5.15, this setup presents a solid opportunity for bulls. Let's see if ETH can ride the next wave up!
⚠️Disclaimer:⚠️
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital
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.