Ethereum's Course Amidst Bitcoin ETF Approval 🚀🌐

11 Jan

The primary beneficiary of the Bitcoin ETF approval seems to be Ethereum and altcoins. With talks of a potential Ethereum ETF approval, the market is confident that if a Bitcoin ETF is approved, an Ethereum ETF might follow suit.


On the daily chart, it's evident that we are still within an overarching Wave 3, both on a higher and lower degree. I anticipate a support range between $2,900 and $3,680, followed by the formation of Wave 4 and the subsequent upward movement in Wave 5 for the overarching Wave 3. Ethereum seems to have a promising journey ahead. Looking at the daily support, I expect a correction within a lower degree Wave 3, forming a Wave 4 between 38.2% and 61.8%. I believe this level aligns with our support zone. Upwards, I see a target of at least $3,010. The exact trajectory and duration of this trade will unfold with time. 📈✨