Ethereum’s latest market structure could be signaling the start of its final impulsive rally, according to technical analysis shared by Ash Crypto.
In his latest chart update, Ash points out that ETH appears to be following a classic five-wave Elliott Wave pattern, a framework that maps out cycles of investor psychology in market trends.
The analyst noted that the corrective Waves 2 and 4 seem to be complete, both mirroring each other in structure and depth, suggesting that the groundwork for Wave 5, the final impulsive leg, may already be forming.
If the pattern continues as expected, the upcoming move could propel Ethereum into the $7,000–$8,000 range, marking a potential new cycle high. Historically, Wave 5 in Elliott Wave theory represents a strong upward thrust driven by renewed investor optimism and institutional inflows.
Ethereum’s current support level around $3,000 has held firm through recent corrections, and traders are now watching closely for signs of momentum recovery. A confirmed breakout from this base could validate the next leg of the rally, setting the stage for one of ETH’s strongest moves since early 2021.
With market sentiment slowly improving and on-chain data showing renewed accumulation, all eyes are now on whether Ethereum can follow through on this textbook bullish formation.