Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave Analysis and Forecast Daily Chart (1D Analysis)

ETHE Elliott Wave Technical Analysis

Function: Major Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction: Uptrend

Technical Insight:

• ETHE has initiated Wave 3, typically the most powerful phase within an Elliott Wave impulse structure.
• The progression follows a standard flat correction, indicating Wave 2 has been completed.
• Based on wave theory, Wave 3 is expected to drive the price to new all-time highs, confirming a strong uptrend.

Key Support Level: Invalidation is set at $12.25. A drop below this would nullify the current wave count.

Grayscale Ethereum Trust ETF (ETHE) – Elliott Wave Analysis and Forecast  Hourly Chart (4H Analysis)

Function: Minor Degree Trend (Grey Label)

Mode: Motive

Structure: Impulse

Position: Wave [5] of i

Direction: Bullish Rally

Technical Insight:

• The market likely completed Wave [4] of i, with Wave [5] anticipated to finalize the first minor wave sequence.
• Price is expected to reach around $26.00 before transitioning into Wave ii, which typically retraces a portion of the initial move.
• Traders should exercise patience during Wave ii and use this phase to develop strategic entries for the next wave up.

Key Support Level: Invalidation remains at $12.25 for the minor wave setup.

Technical Analyst: Simon Brooks

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Conclusion

• Grayscale Ethereum Trust ETF (ETHE) has officially entered Wave 3, the strongest segment in the impulsive Elliott Wave cycle.
• A near-term peak for Wave i is expected close to $26.00, setting the stage for a corrective Wave ii.
• This is a strategic window to formulate Elliott Wave-compliant trading plans.
• Continuous monitoring of the $12.25 invalidation level is crucial to manage exposure and avoid invalid trades.