Next Ethereum (ETH) Wave to $5,600? Price Wave Theory

Key Points

1. Ethereum broke out above $4,200, signaling a possible entry into the third wave of its price cycle, which is often the most aggressive phase.

2. The third wave could drive ETH toward $5,600, aligned with Fibonacci projections and technical indicators.

3. Key resistance levels include $4,300-$4,350, with a daily close above $4,600-$4,800 confirming further bullish momentum.

4. Support levels are at $4,000 and $3,650, with a break below potentially leading to a deeper retracement.

5. The 20-day EMA (~$3,647) remains strong, and volume indicators show ETH has moved into the overbought zone.