Ethereum At Critical Support: Relief Rally Or Trap? We discuss the higher time frame structure, why the current move still looks corrective, the importance of the $2,040 support area, and what would confirm further downside pressure. We also analyze the ETH/BTC chart, seasonality trends heading into June, and the possible short-term scenarios currently unfolding on the lower time frames. Key levels, Elliott Wave structures, support and resistance zones, plus the bigger macro picture for Ethereum are all covered in this update. Ethereum remains under pressure after breaking below the recent price channel, and the current structure still favors a bearish outlook overall. In this video, we take a detailed look at the higher timeframe Elliott Wave count, the key Fibonacci support and resistance levels, and why the move up from the February lows still appears corrective rather than impulsive. We also discuss the possibility of a larger B-wave bounce and what would need to happen for the bulls to regain control short term. Key support zones around $2,036–$2,092, $1,880 and potentially even $1,400 remain highly relevant, while major resistance continues to sit near the yellow trend line and the $2,200–$2,950 region. Timestamps: 00:00 Ethereum breaks down from the channel 00:45 Why the bearish thesis remains unchanged 01:35 Can Ethereum still recover short term? 02:20 Key resistance levels on the higher timeframe 03:21 Two possible B-wave pathways explained 04:15 Why the $1,000 target cannot be ruled out 05:02 Important support between $1,880 and $2,000 05:45 Why the rally from February still looks corrective 06:47 What ETH must do to confirm a meaningful low 08:05 Final outlook and key levels to watch ----------------------------------------------------------------------------------------- 🧿 MCO Global: 💻 https://www.mcoglobal.com/ ✉️ Join the FREE Newsletter: 👉 https://mcoglobal.com/newsletter/ 🧿 Join the More Crypto Online Community: 👉 https://www.mcoglobal.com/memberships OR 👉 https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR 👉 https://www.patreon.com/morecryptoonline 🧿 Join the MCO Stocks & S&P500 Community: 👉 https://www.patreon.com/moretradingonline ----------------------------------------------------------------------------------------- 🧿 Social Media: 👉 X / Twitter: https://x.com/Morecryptoonl 👉 Instagram: https://www.instagram.com/morecryptoonline_official/ 🔗 All Links: https://linktr.ee/morecryptoonline ✉️ Contact: info@morecryptoonline.com ----------------------------------------------------------------------------------------- 🧿 Exchanges & Brokers (Affiliate Links): 👉 Trade on Bybit: https://partner.bybit.com/b/MCO 👉 Trade on Bitget: https://partner.bitget.com/bg/MoreCryptoOnline 👉 Trade with XTB – a global, regulated broker offering 7,100+ stocks and 1,400 ETFs 🔗 https://geolink.xtb.com/XjNyk (Please note: XTB services are not available to U.S. clients.) ----------------------------------------------------------------------------------------- 🧿 Research & Tools (Affiliate Links): 👉 Tradingview - Chart software Get a $15 discount on your first subscription: https://www.tradingview.com/?aff_id=108760 👉 Bitcoin Magazine Pro – On-chain data & research Get 20% off with code: 20MCO https://www.bitcoinmagazinepro.com 👉 CoinTracking – Portfolio & tax tracking Get 10% lifetime discount with this link: https://cointracking.info/?ref=B776587 👉 Protect your cryptocurrencies with Trezor: https://bit.ly/morecryptoonline 👉 Protect your cryptocurrencies with Ledger: https://shop.ledger.com/?r=0fb3c8be2e46 👉 Stay safe with NordVPN: https://go.nordvpn.net/SH4s0 ----------------------------------------------------------------------------------------- ⚠️ Disclaimer The content provided on this channel is for informational and educational purposes only. It does not constitute financial advice, an offer or solicitation to buy or sell any financial instruments, or a financial service under applicable laws. All analyses and opinions expressed are strictly personal views. You are solely responsible for your own investment decisions and act at your own risk. Always consider your individual risk profile and, if necessary, consult with an independent financial advisor. Some of the links provided in this description may be affiliate links. If you choose to use them, MCO Global may receive a commission – at no additional cost to you. Thank you for supporting the channel. ⚠️ Important: Affiliate links related to cryptocurrency exchanges are not available to residents of the United Kingdom, the United States, or any other restricted jurisdictions. Please check the laws and regulations that apply in your country before using such services. Other affiliate links (e.g. VPN, hardware wallets, software tools) are unaffected.