Garret Jin says Ethereum entered a fifth wave of an upward trend that began in April of last year. He notes that a December attempt to resume downward movement failed, which he interprets as evidence of seller exhaustion.

Analyst's assessment

Jin, formerly head of the exchange BitForex, provides price guidance that the market closely follows and often reacts to.

Price targets

• His base target for ETH is $5413, reflecting a conservative projection based on current momentum and recent price action.

• The aggressive scenario projects $7155, assuming continuation of the identified fifth-wave pattern and sustained buying pressure from large holders.

Methodology and context

Jin applies wave analysis and evaluates recent failed sell-offs to conclude that sellers are exhausted and the uptrend remains intact.

Jin argues that the failed decline in December reduced supply-side pressure, increasing the probability of further upward movement in the medium term.

As a former BitForex executive linked in the community to a large early holder, Jin's analyses frequently attract heightened market attention.

Investors and market participants monitor such forecasts alongside on-chain indicators and macro developments to assess probability of the projected targets.