Ethereum Price Prediction: Crash to $1800 or Surge to $6000?
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Ethereum's price remains volatile, trading below $3000 despite Bitcoin's near all-time highs. Analyst Weslad uses the ABCDE wave structure to predict two potential scenarios. The bullish scenario suggests Ethereum is in wave D of a long-term accumulation phase within a symmetrical pennant formation that has persisted since 2021. A successful completion of wave D could propel ETH above $3500, potentially reaching new all-time highs above $6000 if an Inverse Head and Shoulders pattern is confirmed by breaking above the $2855 resistance. This bullish outlook is supported by compressed volatility and increased buying interest on dips. However, a bearish scenario is also possible. If the price is rejected at the pennant resistance, an E wave retracement could trigger a significant price crash of over 30%, pushing ETH towards strong support at $1400-$1800. This bearish scenario highlights the risk of a sharp downturn following the completion of wave D. The analyst emphasizes that a decisive breakout from the current macro structure will signal the beginning of a new phase of long-term price expansion, whether bullish or bearish. The overall uncertainty underscores the need for caution in the Ethereum market. Despite the long-term potential, significant short-term price fluctuations are expected. Weslad's analysis, using wave patterns and chart formations, provides valuable insight into the possible price trajectories but doesn't guarantee future performance.
(Source: https://www.newsbtc.com/news/ethereum/ethereum-wave-count-1800/)
