{"id":201606,"date":"2023-11-27T22:15:50","date_gmt":"2023-11-27T16:45:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-elliott-wave-theory-hints-rally-to-3400-crypto-news\/"},"modified":"2023-11-27T22:15:54","modified_gmt":"2023-11-27T16:45:54","slug":"ethereum-price-prediction-as-elliott-wave-theory-hints-rally-to-3400-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-elliott-wave-theory-hints-rally-to-3400-crypto-news\/","title":{"rendered":"Ethereum Price Prediction As Elliott Wave Theory Hints Rally to $3400 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-166353\">\n<p>\nEthereum Price Prediction: The ETH price potentially entering a 5-wave impulse could trigger a strong recovery.\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/wX4mtYyy-e1701102523277.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ETH price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 6 mins ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Ethereum Price Prediction: Amidst the recent downturn in the crypto market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> recovery took a breather after surging to a high of $2,137, experiencing a temporary drop to $1,900. Analyzing the daily chart, it appears this pullback might be part of a 4th wave correction within the Elliott Wave Theory, potentially setting the stage for a forthcoming 5th wave impulse.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><strong>Also Read:<\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/this-whale-astonishingly-becomes-largest-depositor-on-ethereum-l2-blast-bridge\/\">This Whale Astonishingly Becomes Largest Depositor On Ethereum L2 Blast Bridge<\/a><\/p>\n<h2><b>Ethereum Price Prediction: Will $ETH Surpass $2500?<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A rising wedge pattern governs the current recovery trend<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A post-correction rally could set the ETH price for 18% surge<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Ether is $10.3 Billion, indicating a 66% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1105\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/w\/wX4mtYyy.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/w\/wX4mtYyy.png\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1105\"\/><\/noscript>Source- Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Elliott Wave Theory is a method used in technical analysis to predict future price movements by identifying patterns in market cycles.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">The ongoing recovery of the Ethereum coin, kicking off in mid-October, aligns neatly with the Elliott Wave Theory\u2019s framework. The first wave saw the ETH price peak at $1,656, followed by a second wave correction to $1,543.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the broader market\u2019s recovery, the altcoin surged in a third wave and reached a 7-month high at $2,137. Furthermore, the ETH price experienced a 4th wave correction in the third week of November, marked by a downward-sloping resistance trendline. This pullback assisted buyers in recuperating the exhausted bullish momentum for the next leap\/<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">On November 22nd, while major <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-eth-price-back-above-2000-amid-whale-accumulation\/\">altcoins attempted to recover<\/a> from recent sell-offs, the Ethereum price notably broke out from the overhead trendline, potentially signaling the initiation of a 5th wave impulse.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Using the Fibonacci extension tool to project the 5th wave, it could potentially reach around 0.618 or $1.618 times (wave 1 + wave 3) against the wave 4 correction, implying a potential target of $2,380 or $2900 for Ethereum\u2019s price.<\/span><\/p>\n<h2><b>Is ETH Poised for Further Correction?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1105\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/x\/XgiwHqCy.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/x\/XgiwHqCy.png\" alt=\"Ethereum Price Prediction\" width=\"1946\" height=\"1105\"\/><\/noscript><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Source- Tradingview<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">With an intraday 2% loss, the Ether price currently stands at $2,070. This dip raises questions about whether the price has genuinely entered the fifth wave. However, should the aforementioned bullish thesis hold true, a climb to $2,800 could spark a bullish breakout from a long-standing rising wedge pattern. Such a breakout might indicate a significant trend reversal, potentially strengthening the recovery outlook and aiming for an extended rally toward $3,400.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">The formation of a higher low in the Ethereum price despite a lower low drop in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">RSI<\/a> suggests a reverse bullish divergence in this momentum indicator. This accentuates sellers\u2019 attempts but highlights the potential neglect of their influence<\/span><b>.<\/b><\/li>\n<li aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The slopes of the 20 and 50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> might provide initial support during intermittent pullbacks in the price<\/span><\/li>\n<\/ul>\n<p><noscript><link rel=\"stylesheet\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/936f8d0c426cbecaa734165cec3647d0.css\" media=\"all\" data-minify=\"1\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.3.2\" type=\"text\/css\" media=\"1\"\/><\/noscript><\/p><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-elliot-wave-theory-to-3400\/&#038;text=Ethereum Price Prediction As Elliott Wave Theory Hints Rally to $3400\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-elliot-wave-theory-to-3400\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-elliot-wave-theory-to-3400\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-elliot-wave-theory-to-3400\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA166353\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD166353\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Price Prediction: The ETH price potentially entering a 5-wave impulse could trigger a strong recovery. Published 6 mins ago Ethereum Price Prediction: Amidst the recent downturn in the crypto market, the Ethereum price recovery took a breather after surging to a high of $2,137, experiencing a temporary drop to $1,900. Analyzing the daily chart, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":201607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-201606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=201606"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201606\/revisions"}],"predecessor-version":[{"id":201608,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/201606\/revisions\/201608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/201607"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=201606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=201606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=201606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}