Ethereum $ETH | Monthly Technical Analysis

Ethereum is approaching a critical decision point after finding support near the $1,400–$1,800 monthly demand zone. Buyers have stepped in at a historically significant level, suggesting that long-term accumulation may be underway.
The first hurdle for the bulls lies in the $2,400–$2,500 resistance zone. A decisive monthly close above this region could open the path toward $4,000–$4,400, where a major supply zone awaits. If momentum and volume continue to strengthen, the broader Elliott Wave structure points to a potential Wave C expansion, with long-term targets extending toward $5,100–$5,200 and eventually the $6,500+ supply zone.
However, confirmation is essential. Until ETH secures a monthly close above key resistance, the market remains in a recovery phase. Failure to hold the current support could trigger another leg lower toward the $1,000–$600 accumulation region, where a combined C & B wave extension would still keep the larger bullish structure intact.
The coming monthly candles will likely determine whether Ethereum begins its next macro uptrend or requires one final correction before a sustained rally.
⚠️ Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.