@HuzaifaFarhad 18 August 2025 more from that month

🚀 Ethereum’s Fifth Wave Rally: Heading for New All-Time Highs? Ethereum (ETH) continues to ride the uptrend, and the Elliott Wave structure suggests the market could still be gearing up for another explosive move. Let’s break down the current setup and the critical levels to watch. 📈 Daily Chart Outlook – Big Picture We are still within the fifth wave to the upside that started from the April low. The structure shows: A-wave to the upside B-wave correction bottoming in June around $2,130 C-wave rally currently unfolding, targeting the $4,400 – $5,800+ range

The first target at $4,400 has already been reached. However, based on the Elliott Wave count, it would be ideal to push towards new all-time highs (ATHs), potentially $5,800 or higher. The key support zone that keeps the uptrend intact is between $3,374 and $4,461. Ideally, price should remain above the green trendline, which was a major resistance flipped into support. 🔑 Key Resistance Levels Yellow Line → $4,850 (All-Time High) Green Line → ~$4,100 (Former resistance turned support) Price is currently below the ATH resistance but holding the uptrend as long as it respects support levels. ⏳ Short-Term View – Watching the Micro Patterns On the lower timeframes, ETH is moving within a corrective downward price channel, labeled as a WXY structure. The overlapping nature of the pullback suggests it’s corrective, not a trend reversal.

The critical short-term support zone is $4,100 – $4,120. A decisive break below would damage the bullish case. A wick below is acceptable, as long as price holds above the green line. If ETH breaks above the corrective trend channel, it could be an early signal that the circle wave 5 rally has started, shifting the focus towards $4,900+. 🎯 Summary ETH remains bullish in the Elliott Wave structure. Fifth wave rally is still in play, with $5,800+ potential targets. Short-term corrective structure should resolve upward if support holds. Watch for a breakout above the channel to confirm the next move higher.