The analysis focuses on ETHUSD, noting its positive performance and the movement of altcoins. It identifies a resistance zone starting at $3,938, corresponding to the 100% extension level. The analyst suggests that if the current movement is indeed a third wave, the price could move closer to $4,100, which is identified as the 138% extension level and a potential first ideal target. The analyst recognizes that the price might be in the late stages of wave A of 3. The implied strategy is to monitor ETHUSD with a target of $4101, considering the $3700 level as an invalidation point.