Ethereum shows promise as it enters a structured accumulation phase. Market participants observe key technical patterns and expert insights, predicting a potential trend reversal.
Wyckoff Accumulation Phase Analysis
The chart indicates that Ethereum follows a Wyckoff accumulation framework, marking a shift from bearish to more balanced market behavior. A selling climax occurred at the downtrend’s lowest point. Demand emerged during a secondary test that prevented further declines.
Support and Resistance Zones
Technical analysis defines a resistance zone between $4,650 and $6,000. A breakout above this zone may indicate the start of a new uptrend. Support ranges from $2,050 to $2,650 are crucial for bullish continuation. Additional support exists at $1,550 to $1,600, and between $1,065 and $1,100.
Market Performance and Expert Insights
Marcel Elma notes that Ethereum is setting up for a major move. Levels below $5,000 present a unique opportunity. His insights on potential ETF support and institutional interest complement the technical analysis.
Ethereum's structured technical formation and expert commentary shape investor strategies. A breakout above the resistance zone may drive price gains, while maintaining support in key ranges is vital for market momentum. At the time of writing, Ethereum was priced at $1,903.73 with a notable 24-hour trading volume.
