ETH Price Corrects Before Next Rally to $2,450

Ethereum's five-wave impulse has completed, according to recent analysis. This development suggests that the current price action is likely a short-term corrective pullback rather than an ongoing rally.

The Elliott Wave count for ETH indicates that the five waves (i, ii, iii, iv, v) higher have finished, with one last rally to ~$2,050+/-50 still possible. However, based on current data, a short-term correction to ideally $1,700+/-25 is anticipated.

This correction must stay above the June low, and a serious warning for bulls exists below $1,643 to allow for the next leg higher.