Ethereum Flips Corrective Channel — Elliott Wave Signals Major Bull Run Toward $2,624
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Ethereum Flips Corrective Channel — Elliott Wave Signals Major Bull Run Toward $2,624



Headline: Ethereum May Be Entering a Major Bull Run After Flipping Corrective Channel

Ethereum is flashing bullish signals after breaking out of a corrective price channel, a move that technicians say marks the start of an impulsive wave. Analysts at Elliott Waves Academy are mapping a fresh bullish impulse on the 4‑hour chart, suggesting the market may be entering the powerful Wave 3 of (3) — a structure that often produces rapid, extended gains.

What the structure implies
– The technical projection points to at least a 161.8% Fibonacci extension as a minimum target for this leg, with momentum capable of pushing the move toward a 261.8% extension if buyers remain in control.
– Elliott Waves Academy identifies $2,624.14 as a primary target for the next wave. Continued strength above the prior corrective channel would reinforce the bullish scenario and support the path higher.

How traders might approach this move
– Minor pullbacks should be viewed as potential high-probability re-entry opportunities for longs: short, shallow corrections can reset local indicators while the primary trend stays bullish.
– Confirmation is important — look for sustained trading above the flipped channel and clear momentum signals before committing size.

Range sweep, liquidity and local setups
– Analyst Lennaert Snyder notes that Ethereum recently swept the range high and liquidity region near its all-time highs, then bounced after testing the extremes of the range — a sign buyers are defending critical levels.
– Given the aggressive prior move, Snyder cautions traders to wait for cleaner directional signals rather than chasing volatility in local setups.

Risk-management levels to watch
– Short-side hedge ideas could be considered around places where liquidity was captured during the sweep; Snyder calls out a 50% wick-fill level near $2,110 as an area that could present shorting opportunities if a bearish market structure (MSB) forms.
– Ethereum also left a notable Fair Value Gap during the surge, with the 50% level of that FVG near ~$1,970. A retest of this gap, followed by a reversal, may offer a favorable long-entry zone for traders looking to accumulate.

Bottom line
Ethereum’s flip of the corrective channel has put an impulsive bullish scenario back on the table, with clear extension targets and actionable levels to monitor. Traders should wait for confirmation above the previous structure, keep an eye on key support and liquidity zones, and manage risk around the highlighted levels as the next leg up takes shape.

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