$ETH Market Outlook 📉
Ethereum is still underperforming compared to Bitcoin and continues trading below a major descending resistance trendline. The overall structure suggests the market may still be moving inside a larger wave iv correction.
📊 Main Outlook:
The recent pullback from the April high still looks corrective for now, which leaves room for another recovery move toward the $2,600 – $2,655 resistance zone.
⚠️ Risk Outlook:
If ETH breaks decisively below the February low, the chances of a much larger C-wave decline increase significantly, opening the door for a possible move toward the $1,400 – $1,000 area.
🔑 Important Support Zones:
• $1,800
• $1,600
• $1,400
• $1,000
🚧 Major Resistance Levels:
• $2,600
• $2,655
Bottom Line:
Ethereum still looks structurally weak on the higher timeframe. A short-term bounce is possible, but the broader trend continues to favor downside risk unless bulls reclaim key resistance levels.
