Ethereum Forecast: Approaching a Critical Pivot Amidst Resistance
Ethereum shows a potential short‑term breakout via a falling wedge on the 1‑hour chart. The wedge formed after a sharp rally, with price pulling back in a narrowing channel. A clean break above the upper trendline could revive momentum, but the pattern remains unconfirmed. On the 4‑hour chart the move is labeled an A‑B‑C correction, with wave C testing resistance near $2,402.34, the crucial invalidation level. Only a decisive break above $2,402 would signal a local bottom; otherwise the broader bearish count stays intact. Support zones lie between $1,972‑$1,818 and deeper levels down to $1,387. Volume peaked during the initial rally then tapered during the wedge, indicating a pause rather than distribution. If the wedge breakout holds, the prior upward trend may continue; if it fails, the bearish roadmap resumes. Traders are watching the $2,402 line as the decisive trigger.























