From TradingView · · 1m
Ethereum's Next Move: Impulse or Correction?
Ethereum's price action could signal a new bullish wave or deeper correction.
In brief
Ethereum's price action could signal a new bullish wave or deeper correction. Ethereum's price may confirm a new bullish impulse or trigger a larger correction before reaching $2,807. Originally reported by TradingView.
Ethereum's Current Trend
Ethereum has developed a strong upward move after a previous corrective structure.
Key Price Targets
Target 1: $2,807, Target 2: $3,524, Target 3: $4,680 for potential bullish moves.
Bullish Scenario
Price must break above $2,807 to confirm a new impulsive structure and higher targets.
Alternative Scenario
A break below $2,463 could signal weakening bullish momentum or a larger correction.
Bitcoin's Influence
Bitcoin's strength does not guarantee Ethereum's bullish scenario due to fluctuating correlations.
Critical Levels
$1,505 marks an important invalidation level for bullish scenarios and bearish confirmation.
Final Assessment
Price must reveal the path, whether a new bullish impulse or deeper correction unfolds next.
At a glance
Ethereum's price may confirm a new bullish impulse or trigger a larger correction before reaching $2,807.
