Hello Traders! Today, we will look at the Weekly Elliott Wave structure of Grayscale Ethereum ETF ($ETHE) and explain why the stock is primed for more upside.
Grayscale Ethereum Trust ETF solely and passively invests in Ether. Its investment objective is to reflect the value of Ether held by the Trust, less expenses and other liabilities.
Ether is a digital asset. The peer-to-peer Ethereum Network, a decentralized network of computers using cryptographic protocols, creates and transmits Ether. Furthermore, this network allows people to exchange these tokens of value and records the transactions on a public ledger known as a blockchain.
We’ll review how the rally out of January 2023 low unfolded as a 5-wave impulse followed by a 3-swing correction (ABC) and discuss our forecast for the next move. Let’s dive into the structure and expectations for this stock.
5 Wave Impulse Structure + ABC correction
$ETHE Weekly Elliott Wave Chart 8.12.2025:
Breaking Down $ETHE’s Recent Price Action
Since the January 2023 low, $ETHE has followed a classic 5-wave impulse pattern, indicating a strong trend. Once this pattern completed, a 3-swing correction (ABC) took the stock to the Blue Box extreme area 16.66 – 5.64. This represents a crucial zone where buyers stepped in and started the next leg higher.
After breaking above the May 2024 at $36.28, $ETHE opened an incomplete bullish sequence towards 43.78 – 63.38.
Here’s What to Keep in Mind:
- Stay above the Invalidation Level: As long as the price holds above $12.11, the bullish outlook remains intact. A drop below this level would require a new analysis.
- Avoid Short Selling: Pullbacks will likely prove short-lived, so selling into them carries risk.
Conclusion
Based on the Elliott Wave analysis, the Grayscale Ethereum ETF ($ETHE) appears to be in a strong bullish trend. The completion of a 5-wave impulse followed by a corrective ABC structure suggests that the stock is now in the early stages of a new rally. With the price holding above the critical invalidation level of $12.11, the path of least resistance is to the upside. Traders should focus on buying opportunities and avoid shorting, as any dips are likely to be temporary within this established bullish sequence. The target zone of 43.78 – 63.38 indicates significant potential for further gains.
$ETHE Elliott Wave Video Analysis
Elliott Wave Forecast
We cover 78 instruments, but not every chart is a trading recommendation. We present Official Trading Recommendations in the Live Trading Room. If not a member yet, Sign Up for 14 days Trial now and get access to new trading opportunities.
Welcome to Elliott Wave Forecast!
