The analysis suggests a potential recovery in Ethereum, possibly in five waves, while maintaining the overall structure indicating a bottom in wave four. A sustained break above $3703 is needed to confirm this view. The analysis forecasts challenging the December high near $4100 if a breakout occurs, but acknowledges the possibility of another low due to the bounce not being strong enough. Resistance levels are identified at $3567, $3634, and $3703. A micro five-wave move up is noted on smaller timeframes, but more structure is needed for greater confidence. A support zone that needs to hold to keep the bullish scenario active would be between $3399 to $3483. An increase in upside momentum would confirm a likelihood of breaking resistance.