#Rebound Coin Recommendations

#ETH ethereum
Ethereum's roadmap to $5000 or more

Our previous update indicated that according to the Elliott Wave principle (EW), Ethereum (ETH) completed a larger fourth corrective wave, which is technically known as an uptrend, targeting a level above $6100. We also showed our preferred number of short-term waves, indicating that Ethereum was finishing several fourth and fifth minor waves to ideally reach around $3100 for the first wave of this larger move to over $6100. See Figure 1 below.
Figure 1. Our preferred short-term EW number for Ethereum.
In fact, last week's low is likely to be the gray W-iv model, and the green W-3 model is expected to be in formation now, targeting around $2,900. However, Ethereum must surpass its simple moving average (إذا bulls are unable to surpass the two-hundred-day SMA and the price has fallen from last week's low, it is likely that the Wi Red Index for a new rally towards $6,100 or more has peaked. See Figure 2 below. In this scenario, we expect the price of Ether to reach around $2,100 a little earlier, before starting to rise to around $5,000.

Figure 2. Short-term alternative EWP number for Ethereum currency
In any case, both roads lead to Rome, so to speak, and we must not overlook what is important: the third wave towards $5,000 or more. Let's look at the big picture, so to speak. We present these two options not to confuse, but to clarify what can be expected if the simple moving average of 200 days is exceeded, preferably, or if the price of Ethereum drops below its low from last week. We are simply thinking about the future, and neither price movement will surprise us, allowing us to prepare. And while we update our analyses and insights daily for our premium newsletter members, we will revisit it again in a few weeks.