🕯 Ethereum | Weekly
Ethereum is currently trading around 4,185$ after a correction from the recent peak, and it is testing the main support range between 4,200$ and 4,000$. This range represents a strategic demand area where historical support levels intersect with the previously breached peak of the ascending structure, giving it exceptional technical significance.
🟢Weekly stability above this price band enhances the chances of resuming the next upward wave according to the largely completed Elliott Wave structure, targeting areas of 4,800$ then 5,500$ as the next targets.
⭐️Any clear weekly close below 4,000$ is a sign of weakness that may delay the bullish scenario and open the door for testing deeper support levels.
