The analysis focuses on Ethereum (ETHUSD) using a daily timeframe, highlighting that ETH is currently holding below a yellow line on the chart. The analyst addresses questions about whether a breakout to $5,800+ is confirmed. The analyst points out a fairly large move up from the intraday low. The analyst states that it might be early to be euphoric. The analysis suggests ETH is in an uptrend, with Wave 5 potentially unfolding into a five-wave move up from the swing low formed on August 20 when the price hit a green line around $4,050. The analyst is holding above $4,050 and is below the previous all-time high around $4,900.