ETHUSD Price Analysis: Double Three Pattern Unfolds as Strong Rally Expected

The Ethereum (ETHUSD) price has been forming a three-wave pullback that appears to be unfolding as an Elliott Wave Double Three pattern.

This pattern is characterized by a clear three-swing corrective structure within each leg, with waves (W) and (Y) typically forming as three-wave structures such as A-B-C or W-X-Y.

The recent price action on the ETHUSD 1-Hour chart suggests that Ethereum has completed wave (x) of the Double Three pattern and is now developing the c-red leg of wave (y).

Using Fibonacci measurements, analysts project a potential buying zone at 2375-2337, which represents the Equal Legs area.

This support area is expected to attract buyers, leading to a strong rally towards new highs with a target around 2618+.