- ETH remains below $3,310, keeping the corrective structure intact.
- A short-term bounce is expected before selling pressure resumes.
- Technical analysis points to a downside target near $2,250.
Ethereum continues to trade within a corrective structure, based on recent technical chart analysis. The ETH/USD daily chart shows price action respecting key resistance while following a defined roadmap.
Market analyst More Crypto Online stated that the broader wave structure remains corrective. The current setup reflects controlled movement rather than a confirmed trend reversal.
Corrective Structure Defines Ethereum’s Trend
The daily Ethereum chart suggests that wave (B) has already topped. This assessment is based on price behavior and wave alignment.
The analyst noted that ETH must stay below the $3,310 level. This price zone acts as a key resistance area on the chart.
Holding below $3,310 supports the preferred corrective scenario. A move above this level would alter the current structure.
Price action continues to show consolidation within a broader correction. This pattern has remained intact across recent trading sessions.
Short-Term Bounce Before Renewed Decline
The analysis points to a short-term bounce expected in the near term. This move is labeled as wave B within the smaller corrective sequence.
Such bounces often appear during corrective phases. They tend to occur before selling pressure resumes.
Following the bounce, the analyst expects another move lower. This decline is identified as wave c of circle wave 5.
The projected downside target for this move is near $2,250. This level is derived from wave measurements and past price zones.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
