Ethereum Returns to the Fifth Wave: Analyst Projects $5,413 Target

According to a recent analysis from Garrett Jin, a prominent market analyst known for his technical expertise, Ethereum has signaled a return to the fifth wave of the upward channel that commenced last April. With ETH currently trading around $2.92K, this projection suggests substantial upside potential for the asset in the coming weeks.

Understanding the Shift from Downtrend to Fifth Wave Recovery

The analysis traces Ethereum’s price action through a distinct sequence of events. Beginning with a C-wave decline that started October 10th, the asset entered a sustained downward phase. The overall downtrend found support around November 20th, marking a critical inflection point. By December 18th, what appeared to be a fifth-wave decline ultimately failed—a technical signal indicating that the prior bearish momentum had exhausted itself. This failure, according to Elliott Wave theory, typically suggests a trend reversal is underway.

These conditions have now positioned Ethereum to re-enter the fifth wave of the upward channel that began in April. The theory suggests that after a corrective downturn completes, price typically resumes its prior uptrend direction, which is what analysts believe is now occurring for ETH.

Two Price Targets Ahead: Conservative and Aggressive Scenarios

The technical framework yields two distinct price objectives for this rally phase. The first target sits at $5,413, representing a conservative estimate based on typical fifth-wave retracements. The second, more aggressive projection reaches $7,155, accounting for extended bullish momentum should buying pressure accelerate.

These targets reflect the potential magnitude of the fifth wave rally ahead. From the current $2.92K level, reaching even the first target would represent nearly an 85% gain, highlighting the significant opportunity analysts see in Ethereum’s current technical setup.