Teresa Saha shared news about $ETH 1 hour ago:
The current price of Ethereum is $3443.67, down 1.11%.
There’s also a popular analysis article suggesting that Ethereum might rise to a new high of $4900. This forecast is derived from Elliott Wave Theory 2.0, and it’s said that during Trump’s presidency, the cryptocurrency market was doing quite well.
What does Elliott Wave Theory 2.0 say?
It claims that Ethereum is currently at the beginning of the fifth wave of rise, which started four months ago. This theory suggests that the market behaves like ocean waves, with one wave following another, consisting of five waves that move along with the trend (upward waves) and three waves that move against it (correction waves). The fifth upward wave is usually particularly strong, often exceeding previous highs.
Sabah Research pointed out several points based on this theory:
The fourth wave correction has ended, and the recent market adjustment has found a solid support level for Ethereum, laying a good foundation for the next upward wave. The momentum of the fifth upward wave has already begun, with early signs showing strong rises, resembling the previous fifth wave. It is expected that this wave could reach $4900, based on Fibonacci sequences and historical price trends.
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