Looking back at Chart 1, as early as January 2026 I clearly pointed out that the move from 2623 to 3402 in #ETH was merely a rebound after the weekly decline from 4956 to 2623, and that this rebound had already run its course. The next decline was expected to be on the same scale as the 4956–2623 move, with the correction lasting until June and a target of $1,500–$1,530. Subsequent price action confirmed this: in June, the market first hit a swing low of 1505, then made a second low at 1507, before this rebound went on to gain more than 86%✅
Now look at Chart 2. After ETH rose to 2807, the assessment at the time was that the first upward move from 1505 had most likely run its course, and that a weekly correction of the same degree was next. This raises a question: Is the blue downswing in Chart 2 the entire correction?
If the blue move is the complete correction, then it would be a strong correction, and ETH should in theory have launched into a powerful rally from 2406. But the upward momentum in the market is clearly lacking so far. Therefore, it is more likely that the move from 2406 is only a rebound against the blue downswing. Once this rebound ends, ETH will continue correcting. Under this scenario, the correction could reach its endpoint between late October and early November.
Looking at Chart 3, if the move from 2406 is merely a rebound after the decline from 2807 to 2406, then 2560 is the key level to watch above. Only a decisive break above this level and a sustained hold there would give the market a chance to strengthen. Otherwise, this is just a weak rebound, and prices will continue lower once it ends.
Below, watch support at 2434, which is the 2/1 position on the green Gann angle line. Early yesterday morning, the price retested this level and recovered. I had planned to open an ETH long, but ETH was weaker than BTC, so I ultimately chose to trade BTC instead. I already took profit on part of the position yesterday afternoon. If ETH's daily candle closes below 2434 and the price fails to recover quickly, that would signal that the market is weakening, so be alert to the possibility that this rebound has run its course.
ETH will only begin a new weekly uptrend once the weekly correction that started at 2807 has fully played out. The more drawn-out and complex this correction is, the smoother the subsequent rally tends to be. But by the time the real surge arrives, there probably won't be many people left on board.
Now look at Chart 2. After ETH rose to 2807, the assessment at the time was that the first upward move from 1505 had most likely run its course, and that a weekly correction of the same degree was next. This raises a question: Is the blue downswing in Chart 2 the entire correction?
If the blue move is the complete correction, then it would be a strong correction, and ETH should in theory have launched into a powerful rally from 2406. But the upward momentum in the market is clearly lacking so far. Therefore, it is more likely that the move from 2406 is only a rebound against the blue downswing. Once this rebound ends, ETH will continue correcting. Under this scenario, the correction could reach its endpoint between late October and early November.
Looking at Chart 3, if the move from 2406 is merely a rebound after the decline from 2807 to 2406, then 2560 is the key level to watch above. Only a decisive break above this level and a sustained hold there would give the market a chance to strengthen. Otherwise, this is just a weak rebound, and prices will continue lower once it ends.
Below, watch support at 2434, which is the 2/1 position on the green Gann angle line. Early yesterday morning, the price retested this level and recovered. I had planned to open an ETH long, but ETH was weaker than BTC, so I ultimately chose to trade BTC instead. I already took profit on part of the position yesterday afternoon. If ETH's daily candle closes below 2434 and the price fails to recover quickly, that would signal that the market is weakening, so be alert to the possibility that this rebound has run its course.
ETH will only begin a new weekly uptrend once the weekly correction that started at 2807 has fully played out. The more drawn-out and complex this correction is, the smoother the subsequent rally tends to be. But by the time the real surge arrives, there probably won't be many people left on board.