The analysis discusses two scenarios for Ethereum (ETHUSD), both bullish. The support zone between 4476 and 4546 is holding. The yellow scenario, suggests a B-wave bounce followed by a C-wave decline. No substantial top has formed, price is just below all-time high. Resistance is strong. Price rejected a fib level. The price moved from target to support, now watching for reaction. Two scenarios are being tracked, both are bullish at the moment. Looking at a B wave, coming down in a C wave. The white count: a 5 wave move up, one, two, three, four, five. As long as holding above 4476. This might happen as long as above the green break out, a resistance around 4100. Yellow count is getting warm, a deeper pullback, then a fifth wave. A A-B-C correction. B wave is next and then a C wave decline. The market should hold above the lower support area between 4272 to 4123. Resistance is 4589 to 4724.