Ethereum Approaches Final Wave v Phase as Analysts Track Expanding Diagonal Targets Above $9K

Ethereum forms a “textbook Expanding Diagonal” as wave v enters its final a-b-c phase.

Analysts say wave c may reach $9,000–$18,000 while wave b holds a key liquidity support zone.

Spot outflows persist, yet open interest stays high as traders watch major support and resistance.

Ethereum continues to trade inside a broad rising wedge while the biweekly structure follows a textbook Expanding Diagonal pattern. The current wave v phase moves toward its last stages, and the chart shows the complete a-b-c corrective sequence developing near the upper boundary. Wave a has already moved above the $3,650 horizontal barrier, and wave b now rests on a key liquidity zone. At the time of writing, ETH was trading at $2,713.

Expanding Diagonal Structure Gains Attention

According to analysis prepared by Gert van Lagen, Ethereum maintains higher lows and higher highs across the biweekly chart. Wave b now tests support inside a Fair Value Gap that aligns with a higher-time-frame moving average band, and traders see repeated reactions in this area. The zone also matches past turning points from wave 2 and wave 4, and the structure keeps a steady rhythm.

The chart shows a path for wave c toward the green box between $9,000 and $18,000. The upper wedge line records this target zone, and the spacing between each major swing remains even across the entire pattern

A comparison chart of the DJIA hourly pattern also appears in the analysis, and it shows a related expanding structure with clear swing labels. ETH spot data records steady outflows through recent months, and some sessions saw more than $200 million in withdrawals. Coinglass data shows open interest rising from below $15 billion to above $35 billion in mid-August, and the level stayed high even as price softened.

Key Levels and Market Conditions

According to MoreCryptoOnline, Ethereum now sits near a major weekly support area between $1,820 and $2,620, and this zone has held during the current correction. From here, a move into a broader B wave remains possible, and the service notes that the daily chart still allows another pullback before a larger reaction forms.

Source: MoreCryptoOnline(X)

Technical levels remain clear. Resistance sits at $3,017–$3,050 and then at $3,373, while support stands at $2,852 and $2,945. Liquidity zones remain near $2,700 and $2,550, and the chart shows compressing price action with lower highs and tight swings. Traders watch for a break of these zones as the market prepares for stronger movement.

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