In this article, we will take a look at Ethereum. We can see that Cryptocurrencies formed a major low back in April 2025 and have been rallying since then. Some have rallied more than others and we see Bitcoin even made a new all time high already. ETHUSD, on the other hand, has not yet made a new high above it’s December 2024 peak but it has nearly doubled since forming a low back on April 7, 2025 rallying from $1385 to $2789. It is currently trading at $2674 and is attempting to break above the earlier peak of $2789. Today, we will take a look at the structure of the rally from April 7, 2025 low and try to determine the next move in the cryptocurrency.
Ethereum (ETHUSD) 8 Hour Elliott Wave Chart June 10, 2025
Above chart shows current rally is clearly impulsive with clear separation and extension in wave 3. Wave (1) ended at $1687.2, wave (2) completed at $1473. Wave 1 of 3 completed at $1873.2 wave 2 of (3) completed at $1753.2, this followed by a strong rally in wave 3 which ended at $2606.5, this was followed by an irregular wave 4 which ended at $2407.5 and then a new high in wave 5 to $2738.9 which completed wave (3) of the on-going impulse Elliott wave structure. Then, we saw a 3 waves pull back in wave (4) which was expected to complete between $2387.5 – $2224.6 which was 100 – 161.8 fib extension area of wave A related to wave B. Wave (4) competed at $2325 and the rally resumed in wave (5). We have already seen a new high above wave (3) peak but the new high was in 3 waves which is part of a corrective sequence. Since wave (5) should be an impulse so it can’t have a corrective sequence. We considered the possibility of a FLAT in wave (4) but the decline was also left in 3 waves and Ethereum rally is getting closer to the previous peak due to which we are considering the possibility of an Ending diagonal structure in wave (5) when we are currently in wave 3 of (5). 100 – 161.8 fibonacci extension area of wave 1 related to wave 2 comes between $2850 – $3141 from where we can see a pull back in wave 4 followed by another 3 swings higher to complete the ending diagonal wave (5) and impulsive rally from April 7, 2025 low. Afterwards, expect a larger 3 waves pull back to correct the cycle from April 7, 2025 low before the rally resumes.
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