Ethereum Price Prediction: ETH Faces Wave 3 Downside Risk
Ethereum Ethereum Price Prediction: ETH Faces Wave 3 Downside Risk Ethereum is under pressure after a fresh resistance rejection, while recent FOMC patterns show ETH has struggled after Fed meetings. Now, traders are watching whether ETH can hold key support or face another sharp post FOMC decline. Ethereum Price Faces Wave 3 Pressure After Resistance Rejection Ethereum remained under short term pressure after price failed to break resistance and turned lower on the 1 hour chart. The chart from More Crypto Online shows ETH trading near $2,241 after a rejection from the upper resistance area. The analyst said Ethereum is still working on wave 3 to the downside, which means sellers remain active in the current short term structure. ETH Short Term Wave Count. Source: The key resistance zone for wave 4 sits between $2,290 and $2,334. If ETH rebounds, this area may act as the next test for buyers. A move into that range would not confirm a bullish reversal by itself. Instead, it could mark a corrective bounce inside the wider downward move. Ethereum also trades near the 38.2% Fibonacci level around $2,240. This level now works as a short term reference point. If ETH fails to hold near this area, the chart points to lower Fibonacci