Ethereum breaks through key levels? Technical analysis points to two targets at $5400 and $7100

Question

【Blockchain Rhythm】Recently, market analysts have discovered some interesting movements in Ethereum through technical analysis.

Since October 10 of last year, Ethereum has entered a wave C decline. This decline faced resistance around November 20, and then on December 18, the fifth wave failed to decline. This failure signal is very important—it indicates that the momentum of this downward trend is beginning to weaken, and the market may be brewing a reversal.

Based on wave theory analysis, analysts believe that Ethereum has re-entered an upward channel that started in April of last year, and is now in the fifth wave stage within this channel.

According to this judgment, they have provided two price targets:

Conservative target: $5,413

Aggressive target: $7,155

The logic behind these two figures is that if the upward momentum continues, Ethereum should gradually move toward these key levels. Of course, technical analysis itself carries uncertainties; these targets are more of a reference framework, and the actual trend will depend on the market’s real response and macroeconomic factors. Many traders pay attention to such technical analysis to assist their decision-making, but risk management always comes first.

DAOdreamer · Accepted Answer

Wave theory again? I believe in $5400, but $7100 is really a bit greedy.

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The wave theory explanation always has two targets; anyway, it always guesses one right haha.

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The fifth wave failed and turned around, sounds good, but I don't know how long this wave can last.

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$5400 is still a bit away; let's see if we can stabilize above $4000 first.

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This analyst is always looking for key levels, it's starting to annoy me. Should I just jump in now?

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Aggressive target of $7155... Is dreaming free?

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Wave theory is old-fashioned, but honestly, this time the logic is quite clear, which made me take another look at the chart.

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Only breaking $5400 would be real; it's a bit early to say these things now.

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So should I go in now or wait? The signals are a bit fuzzy.

SighingCashier · Answer

Here comes wave theory again... To be honest, I'm a bit numb; it's always the same story.

However, 5400 and 7100 sound truly tempting, just worried that it's another mirage.

BearMarketBuyer · Answer

Elliott Wave Theory is back again, always so good at making things up

It's the same story, 5400 and 7100, dare to really rise to

Wave 5 failure = rebound? I’d only believe that logic if I were crazy

Every day technical analysis, but it's better to look at exchange fund flows

Nice words, when it really drops, can these targets feed you?

For those who believe in wave theory, how are things now?

7100? I was still thinking about 8000, so cheap it's like a dream

DeFiVeteran · Answer

Is the wave theory starting again? Every time it's about a breakout or a reversal, I just watch to see how far it can go this time.

MidnightTrader · Answer

Wave theory is back again. Is this time reliable?

It's either 5400 or 7100. Dare to give a precise number?

The previous analysis missed several times. Are you willing to gamble this time?

Let's wait and see. It still feels like the breakout hasn't truly happened.

To put it nicely, the key is whether it can hold this level.

APY追逐者 · Answer

Wave theory is back again, 5400 and 7100, I just want to see where this can go this time

Another failed 5-wave pattern, it's the same old story, wake up everyone

7100? Let's get past 5400 first, don't just draw pie in the sky

This price target feels a bit overly optimistic, can it really break?

5400 is the bottom line, 7100 is a dream, how it moves in between is the key

LadderToolGuy · Answer

Wave theory is starting to celebrate again. I think I have to wait until it breaks 5400 before I can believe it.

Another analyst is drawing lines; I've heard the number 7155 too many times.

Technical indicators change every day, but the wallet is the real thing. Let's wait for the spot to truly break through.

5400 feels too conservative; might as well just bet on 7155 directly.

Whether this wave can rise depends on BTC's mood. Looking at ETH alone makes it easy to get slapped in the face.

Anyway, it's wave theory again. I bet it will fail again this time.

CommunityWorker · Answer

Wave theory again, huh? Every time I look at this stuff, I get a bit confused, but 7155 does sound really tempting.

First, secure 5400 as a bottom, then try to push for 7100? We need to see how the subsequent trend develops.

If the failure signal in December really takes effect, then we make a profit, but the prerequisite is that it doesn't crash down again...

MetaverseHobo · Answer

Whether 5400 breaks or not, I remain uncertain; 7100 is even more of a pipe dream.

Ethereum breaks through key levels? Technical analysis points to two targets at $5400 and $7100

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