Ethereum’s four-hour chart shows 2,468.10, up from yesterday’s 2,422.20. Price has recovered above the highlighted 2,410–2,420 area, while 2,316.35 remains intact. The count retains W at that low and a developing corrective X through (a)–(b)–(c). The latest advance supports the proposed (c) leg toward approximately 2,540. The updated projection then allows weakness toward 2,400, conditional on X completing.
- Trend: Corrective rally within a broader bearish structure.
- Trading Range: Approximately 2,340–2,490.
- Wave Structure: W labelled complete; (c) of X potentially underway.
- Support: Highlighted 2,410–2,420 area, then 2,316.35.
- Resistance: Around 2,490, followed by projected 2,540.
Will Ethereum go up?
Further recovery is favoured while the (b) low near 2,340 holds. Breaking 2,490 would support extension; losing 2,340 would challenge the proposed (c) advance.
ETHUSD News
U.S. spot Ether ETFs reportedly lost approximately $320 million last week and another $103.3 million on Monday, signalling weaker investment demand. BitMine’s purchase of 12,535 ETH offers an offset, while JPMorgan’s JPM Coin expansion to Ethereum strengthens institutional adoption.
For the coming minutes and hours, persistent withdrawals suggest a cautious, mildly bearish bias for ETH. Adoption headlines may support sentiment, but do not establish immediate token purchases sufficient to offset fund withdrawals. These developments alone cannot establish what is driving current trading.
An anticipated Federal Reserve hold would offer limited surprise; fresh signals of additional tightening would matter more for speculative demand.
Does JPM Coin guarantee stronger ETH demand?
No. Greater network usage does not automatically translate into substantial investment buying.