Technical analysis by bcd1 about Symbol ETH: Buy recommendation (12/22/2024)

On Ethereum's 4-hour chart, a reaction rise following a sharp decline is striking. The reaction candlestick thrown above the area indicated in the chart has retook. If this level is maintained, a double top structure formation can be observed in the formation. If the double top formation works actively, the 2900-3000 USD levels stand out as a major support area as well as a region where long positions are intense in terms of liquidity. I think this level could offer a buying opportunity in the short and medium term. If a pullback to the indicated support area occurs, there is a potential for a move from here to the all-time high (ATH).