ETHUSDT - UniverseMetta - Analysis

#ETHUSDT - UniverseMetta - Analysis
Potential reversal & correction setup in progress

📆 W1 – Weekly Timeframe
🔹 Price is testing a major monthly resistance zone, from which price has previously rejected toward the lower edge of a large triangle structure
🔹 According to the 3-wave structure, ETH has reached 161% of Wave 1 and closed above the 200% Fibo level
🔹 If the price fails to make a new high this week, a top fractal may form — a possible signal for a medium-term correction

📉 D1 – Daily Timeframe
🔹 A double top pattern is forming, along with a potential retest of the trendline
🔹 If confirmed, this could trigger a 3-wave correction structure downward
🔹 A downward fractal is already printed — adding confluence to the bearish scenario
🎯 Correction targets:
 • $3,242
 • $2,546

⏳ H4 – 4H Timeframe
🔹 Current price action suggests a correction from the recent impulse
🔹 A 3rd wave may initiate upon trendline breakout
🔹 Entry confirmation may come from breakout + retest, or via confirmed double top structure
🔹 Stop should be placed above the high of Wave 1 (H4)

🎯 Trade Setup:
Entry: 0.64930
TP: 0.65404 - 0.65700 - 0.66164 - 0.66676
Stop: 0.64482

‼️ Risk should not exceed 1–3% of your portfolio
This signal/idea is not financial advice

📌 Key Fundamental Triggers to Watch:

🔹 Federal Reserve expectations – a dovish shift could support ETH short-term, but failure to materialize may drive a pullback
🔹 ETH ETF news – updates on applications, approvals, and volume flows can significantly impact sentiment
🔹 Correlation with NASDAQ/S&P500 – weakness in equities could drag crypto lower
🔹 On-chain activity – declining gas usage or demand may indicate lower network utility and bearish pressure
🔹 Weekly overbought condition – many technical indicators (RSI, MACD) point to overextension