@Nirav_Finance
Ethereum Update: Quiet Weekend Ahead as ETH Stalls Below Trend Resistance
Ethereum continues to trade in a tight range, holding just below the upper boundary of its trend channel, and all signs currently point toward a low-volatility weekend. Based on historical behavior and current market conditions, a major breakout over the weekend appears unlikely.
๐ Market Context: Why the Weekend May Stay Quiet
Historically, Ethereum (and crypto markets in general) rarely see decisive channel breakouts over weekends, especially when:
Trading volume is already declining
Liquidity is thin toward year-end
Price action lacks impulsive structure on lower timeframes
This environment usually leads to range-bound price action, which is exactly what we are seeing now.
๐ Ethereum Trend Channel & Higher Timeframe Outlook
$ETH remains below the upper boundary of its trend channel, while price is still holding above the channelโs center line, currently around $2,800โ$2,810.
A clear break below this center line would significantly increase the probability that Ethereum is heading toward the next downside target zone.
๐ฝ Potential Downside Target (Wave 5 Scenario):
$2,626 โ $2,258
At this stage, there is not enough evidence to confirm a market top, but there are early warning signs suggesting that the corrective structure may already be complete.
๐ Elliott Wave Perspective: Two Scenarios in Play
Ethereum currently presents two valid scenarios:
๐ก Scenario 1 (Yellow Count โ Bearish Continuation)
The corrective wave 4 likely ended at the November 21 low
