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On June 1st, we clearly stated that ETH would drop to around $1500 by the end of June, based on Gann timing. Later, we saw ETH officially begin its rebound after testing $1505 for the second time on June 26th without breaking below. On August 24th, we mentioned that BTC's rebound since August 17th was likely over, and correspondingly, ETH's upward movement (as shown in the red segment in the chart) had also ended. Now ETH has reached a critical juncture. The pullback should ideally end above $2240 this week. If the pullback ends quickly and ETH moves upward, there’s a high probability of reaching a new high above $2566. The nearest resistance level above is $2688, while the resistance zone between $2720-$2827 is what I call the 'Sky Barrier.' If ETH breaks below $2240, the correction could expand to cover the entire upward movement starting from $1505, and $2566 might turn out to be the peak of this rebound. Under this scenario, a lower rebound high point below $2566 could appear this week or next week, marking a turning point in the trend. Time is tight, and the pressure is high. Every day and every hour of delay works against the bulls. Ending the correction quickly is key to continuing upward momentum.
