Technical analysis by muraatboyraz about Symbol ETH on 1/15/2025

We have been in a correction pattern for over 1000 days. We needed one more decline for the E wave to complete, and it did. If we can see the continuation of the last reaction we received, I will start to think that the E wave is completely over. The price may oscillate from here and start looking for a new bottom again. As long as it does not fall below $2,100, we can label the wave as E. If we start climbing higher with the momentum we want, we can more easily determine possible targets for the 5th wave. If I have to make an early estimate right now, I can say the $7,000 levels hitting the w1*0.618=w5 ratio. Considering that the last rising waves for Bitcoin and Ethereum are missing, it seems possible that Altcoins will get their share of the upward movements we will experience. Despite everything, we need to keep negative scenarios in the back of our minds. I do not think we can talk about a green alt market if Bitcoin and Ethereum do not allow it. I have indicated the situations and levels to follow on the chart. I will update my opinion in case of any developments.