Ethereum (ETH) has faced a significant decline from its all-time high of 4,865 USD in November 2021 to a low of 883 USD in June 2022, before recovering to 4,109 USD by December 2024. Currently, it is trading at 1,600 USD.
Applying the Elliott Wave theory, a correction pattern indicates further potential movement. A critical support level at 1,085 USD must be maintained to signal a bullish trend towards 6,000 USD, but the current downtrend remains concerning.
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