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Hello fellow traders. In this technical article, we are going to present Elliott Wave charts of Ethereum ETHUSD.  The crypto ended cycle from the 2104.3 peak and now correcting it. In the following sections, we will delve into the specifics of the Elliott Wave pattern.

ETHUSD Elliott Wave 1  Hour  Chart 04.18.2025

The current analysis suggests that ETHUSD is forming a wave 2 red recovery. The correction is incomplete at the moment, we expect another leg up. As far as the price stays above 1537.8 low toward 1775  -1847 area .

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ETHUSD Elliott Wave 1  Hour  Chart 04.22.2025

The crypto held above the 1537.8 low and continued to rally, as expected. The price is ideally heading toward our first target area at 1775. We do not recommend selling the crypto at this time. However, keep in mind that the cycle from the December 2024 peak still appears incomplete. Therefore, as long as the 2105 pivot holds, further downside could follow once the current correction is complete.

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ETHUSD

Thank you for exploring our ETHUSD analysis.

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Source:https://elliottwave-forecast.com/cryptos/ethusd-elliott-wave-forming-zig-zag/