Technical analysis by ElliotXSolana about Symbol ETH: Buy recommendation (4/24/2025)

ETHUSD 🔵 Macro Count OverviewEthereum has been unfolding a clean macro impulsive structure since the 2021 high and 2022 low: November 2021: Major Wave ① top June 2022: Bear market bottom, forming Wave ② From there, we began a new impulsive cycle with a clear internal structure: → 1-2-3-4-5, which completed Wave (1) in December 2024🟢 Recent Developments – The Foundation for Wave (3) Over the last few weeks, Ethereum has formed a textbook Wave (2) bottom. The correction respected the Fibonacci retracement zones perfectly and provided a strong base. We’ve already seen a clean breakout to the upside, signaling that Wave (3) may now be underway.🟨 What’s Next – Building Wave (3) We are now likely in the early stages of Wave (3), which is expected to unfold in a yellow internal 1-2-3-4-5 structure. This sequence will drive the price into significantly higher zones, confirming the start of a powerful bullish leg.🎯 Target Zone for Wave (3): $6,600 – $7,200 Based on Fibonacci extensions of the prior impulse (Wave 1) Potential for higher extensions if momentum and volume align Psychological resistance may act as short-term hurdles, but structure points higher✅ ConclusionEthereum has completed its macro Wave (2) correction and is now gearing up for an extended Wave (3). With a breakout already underway, the internal structure points to a 5-wave advance likely aiming for $6,600–$7,200 or higher. As long as recent lows hold, this scenario remains firmly in play.