The analysis focuses on the ETHUSD chart, currently holding support between $3374 and $4061. It posits that the market is in a fourth wave correction, a view maintained since August. A potential correction of around 30% was already factored in, with the 50% retracement level at $3374 being crucial to maintain a bullish perspective. The ideal support level is identified at the 38.2% retracement, around $3665. The analyst is watching for a sign that the correction could be over, potentially starting a new leg up, labeled as wave five. A break above the green line at $4402 would be key, given it's where selling pressure initiated on October 10. The downside move is perceived as corrective rather than impulsive, characterized by overlapping price action, indicating no clear downtrend. The analyst is skeptical, and capital preservation might be key.