The Trust Layer for Market Analysts

The analysis focuses on Ethereum (ETH/USDT) on a daily timeframe. Two primary wave count scenarios are presented. The first scenario suggests that the market is in a bearish trend, potentially forming a corrective wave leading to a lower low. The second scenario interprets the recent price action as the completion of a five-wave move, potentially initiating a bullish trend. Key resistance levels are identified around $3500-$3600, with Fibonacci retracement levels also highlighted. The analysis emphasizes that a break above the $3500-$3600 resistance zone would invalidate the bearish outlook and potentially confirm a larger bullish structure. Conversely, a break below the current support levels would reinforce the bearish scenario. The current price is near the 50% Fibonacci retracement level of a previous significant move, acting as a crucial area for decision-making. The analyst notes that the market is currently in a consolidation pattern, with the outcome dependent on breaking key resistance or support levels.