ETH/USDT Potential Wave 5 Rally – Targeting $3560 to $3700! 
2024-11-16

🚀 ETH/USDT Potential Wave 5 Rally – Targeting $3560 to $3700! 🚀

Ethereum has recently completed a corrective ABC structure, retracing from $3449 down to $3016, which appears to have marked the end of Wave 4. Following this correction, ETH seems poised for a breakout on the lower timeframes, which would confirm the start of Wave 5.
 
Key Insights: 
Wave 5 Formation: After the corrective dip, ETH is set to resume its bullish trend with Wave 5, targeting a minimum extension of 1.272 based on the move from Wave 3 to Wave 4. This suggests a target around $3560 as a conservative estimate, with potential upside reaching $3700.
 Entry and R/R:  With an entry at $3060, the risk-to-reward ratio (R/R) remains attractive, estimated around 5.15 if the breakout completes. This setup offers a favorable trade opportunity with clear upside targets.
 Price Targets: 
 
 Wave 5 Minimum Target:  $3560 (1.272 Fibonacci extension).
 Higher Target Zone:  $3700 if momentum accelerates.
 
 📈 Conclusion:  ETH looks ready to rally into Wave 5 after confirming the breakout. Aiming for $3560+ with an optimal R/R of 5.15, this setup presents a solid opportunity for bulls. Let's see if ETH can ride the next wave up! 

 ⚠️Disclaimer:⚠️ 
⚠️ This is not financial advice! All information provided is for educational purposes only. Always conduct your own research before making any investment decisions. Trading carries a high risk and may result in the loss of capital