Ethereum Bears Predicted To Dominate Longer

Bearish Trend Expected to Persist for Ethereum

• Ethereum’s price has been below $2,000 for the past seven days.
• An Elliott Wave analysis indicates an ongoing ABC correction pattern since November 2021.
• Wave B of the correction is nearing completion, with wave C expected to extend the bearish trend.
• The first demand zone for potential buying pressure is between $1,350 and $1,080.
• If this zone fails, a deeper correction could lead prices to between $760 and $530.
• The bearish scenario would be invalidated if Ethereum closes above $2,941.

Currently trading at approximately $1,930, Ethereum’s price structure suggests limited potential for breaking above $2,941 in the near term. The ongoing ABC correction pattern may continue to influence its market performance negatively.