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Ethereum price action in the past 24 hours was characterized by a fall Around $ 2,100 before rebounding very quickly. The price of Ethereum has dropped $ 2,130 in the last 24 hours on Crypto Exchange Coinbase in the middle of a broader fall in the crypto industry, which also saw Bitcoin Break less than $ 100,000 very briefly.
Despite the Sudden Ethereum prices correction, analysts presented Arguments that refer to a strong rally of Ethereum Once this current slowdown is finished. In particular, their Projections are not in the short term, And one of them places the next main target of Ethereum around $ 6,000.
Make a full side, but probably before the rally
THE Detailed first analysis came from @cryptowavev, a merchant who uses the theory of Elliott waves to predict the structure of the market. According to his recent article, the price of Ethereum has now completed what he considers a vague A of a greater corrective structure. Its Graphic Watch Ethereum decomposing a summit of about $ 2,900 and falling almost directly into a support area based on Fibonacci between $ 2,134 and $ 1,957.
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Now that the reason for wave A is finished, prediction is a short -term rebound up to $ 2,792 as part of a retrace of the B wave. However, this upward movement would probably be temporary before another wave C down, which could lead the Ethereum price up to $ 1,706 before a significant background is confirmed.
This level is what the analyst calls for his “ideal purchasing zone” for long -term accumulation. Although short -term sight includes price accidents, A complete increased impulse will resume Once this corrective phase is completed.
Wyckoff Structure Points $ ETH price
Merlin, a popular analyst on X, shared a contrast but converge perspective. In this case, the analyst’s prospects are based on the Wyckoff accumulation framework. Merlijn said: “Ethereum: Wyckoff dit Go.”
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According to the table of daily prices which followed his analysis, the analyst has shown that the crypto had already finished the jurisdiction and test phases, which are both components of a Wyckoff accumulation model. What then comes, according to the Wyckoff method, is the markup phase.
The Merlijn graph has posted alignments with this perspective. The graph projected that Ethereum will recover a Horizontal variation between $ 2,150 and $ 2,450, followed by regular progression more than $ 3,850, then another solid exceeding of $ 4,800, before finally peak around $ 6,800 to $ 7,000. This bullish configuration suggests that if the recent drop to $ 2,100 could have shaken confidenceIt may have served a more important structural objective. Spring and trial models involve one lasting a last hand of weak hands, eliminating the path for long -term buyers to work.
Finally, the prospects of the two analysts converge on a trajectory of six months to a year which could see Ethereum enter the fork of $ 6,000, if not higher. At the time of writing this document, Ethereum is negotiated at $ 2,420, up 7.4% in the last 24 hours.
Getty Images star image, tradingView.com graphic
