Technical analysis by WaveFibs about Symbol ETH: Buy recommendation (2/4/2025)

🚀 Ethereum (ETH/USD) – Bullish Elliott Wave 5 Expansion 🚀📈 Weekly Chart Analysis | Elliott Wave + Fibonacci + MACD + RSIEthereum is currently in a Wave 4 corrective phase, preparing for a Wave 5 rally. If ETH holds above key support levels and breaks resistance, we could see a strong bullish move towards 5,440 USD and beyond.📊 Elliott Wave & Fibonacci AnalysisEthereum's Elliott Wave structure suggests that Wave 5 is yet to unfold. Based on Fibonacci extensions, the next key targets are:✅ Fib 0.382 (~4,058 USD) – Initial resistance. A breakout here confirms bullish momentum.✅ Fib 0.618 (~5,440 USD) – Mid-term bullish target.✅ Fib 1.618 (~10,408 USD) – Extended bullish scenario if Wave 5 fully plays out.🔹 Key Support Levels:2,199 USD (Fib 0.236) – Must hold for the bullish structure to remain valid.2,069 USD (Fib 0.5) – Deep retracement support.🔹 Key Resistance Levels:3,796 USD (Fib 0.382) – Crucial breakout zone.4,058 USD (Fib 0.5) – Confirmation of bullish trend.📉 MACD & RSI Confirmation📊 MACD Analysis:MACD lines are close to a bullish crossover, indicating momentum shift.Histogram is contracting, suggesting sellers are losing control.⚡ RSI Strengthening:Currently around 51, signaling neutral momentum.A break above 60 RSI confirms strong bullish pressure.📊 Volume Analysis & Market Structure📌 Current Volume:Volume is currently low, which indicates market indecision.A spike in buy volume will confirm a strong breakout above 3,796 USD.🚦 Market Structure Confirmation:Higher lows forming – Bullish structure remains intact.Breakout above 3,796 USD + volume spike = Strong Wave 5 rally potential.✅ Bullish Trade Plan🔹 Entry Trigger: Breakout above 3,796 USD with volume confirmation.🎯 Take Profit 1: 4,058 USD (Fib 0.382)🚀 Take Profit 2: 5,440 USD (Fib 0.618)🌕 Take Profit 3: 10,408 USD (Fib 1.618)🛑 Stop-Loss: Below 2,199 USD (Fib 0.236)💡 Conclusion & Market SentimentEthereum is approaching a key resistance zone at 3,796 USD. A break and close above this level with strong volume will signal the start of Wave 5, potentially targeting 5,440 USD and beyond.📢 Market sentiment remains cautiously bullish.If ETH holds above 2,199 USD, the bullish structure remains intact.MACD & RSI indicate growing momentum, but confirmation is needed.Watch for a volume breakout above 3,796 USD before entering a trade.📢 What’s your ETH price target? Comment below! 🔥📈 Like & Follow for More Crypto Analysis! 🚀