Ethereum 4H: Final Leg of a Larger Correction ?Ethereum / U. S. DollarKRAKEN:ETHUSDMehdi_Abbasi_EWPEthereum 4H: Final Leg of a Larger Correction or the Beginning of the Next Bull Cycle? | Elliott Wave Analysis Following the primary scenarios discussed on the daily chart, the 4-hour timeframe provides additional insight into the internal structure of Ethereum's ongoing correction. From the conservative perspective, the decline labeled as wave C continues to display the characteristics of an impulsive structure. Most notably, the initial phase of this decline appears to have developed as a large Leading Diagonal, a pattern frequently observed at the beginning of major impulsive sequences. A closer examination of the internal subdivisions reveals that the extensions of waves (3) and (5) have remained within the 61.8% to 78.6% Fibonacci extension range, a behavior commonly associated with the personality of leading waves within larger impulsive structures. There is also the possibility that the highlighted turquoise structure represents an extended third wave sequence. If the current interpretation is correct and the present decline is identified as wave (1) of a larger bearish impulse, then the market may still require one additional downward leg before the larger corrective structure is completed. Under this interpretation, the Running Flat structure identified on the daily chart could eventually evolve into a Regular Flat, implying that Ethereum may still need to revisit lower price levels, potentially toward the $1,000-$900 region, before the larger bullish cycle begins. However, an alternative outcome must also be considered. If the current low marks the completion of the larger correction and the market develops a clear five-wave impulsive advance, the next expectation would be a corrective retracement against that advance. In this case, a decisive break above the wave (4) territory of the previous wave C decline would provide the first meaningful confirmation that the larger bullish cycle has begun. Until such confirmation occurs, every corrective formation that develops following an initial advance—whether simple or complex, shallow or deep—must be evaluated carefully, as it may reinforce the possibility that one final bearish expansion remains ahead. At present, the structure continues to respect Elliott Wave rules and guidelines. Therefore, the question is not whether Ethereum will eventually enter a major bull market, but whether the market has already completed its correction—or whether one final decline is still required before that expansion begins. Sometimes the market's final test appears just before its greatest opportunity. – Patterns whisper. I listen. – Mr. Nobody 🎧📊 Ethereum 2 days ago Running Flat Correction Before a Historic Expansion? Ethereum!