Technical analysis by DhandaTheGreat about Symbol ETH: Buy recommendation (2/23/2025)

Current Price: $2,808Prediction: 🚀 +139% move expected, target $6,700Analysis & Market Structure:📌 Ethereum is undervalued & has not yet hit an all-time high in this cycle –🔸 Unlike Bitcoin, ETH still has room for a significant rally, making it a strong buy opportunity before it catches up to the broader market trend.🔸 ETH remains cheap compared to other major assets, providing a high-upside opportunity for 2025.📌 Technical Setup – Strong Uptrend Forming🔹 ETH is approaching key support within an ascending channel, making this an ideal buying zone before the next breakout.🔹 The major downtrend resistance (red line) is still intact, but once ETH clears $3,500-$3,800, it could rally aggressively toward new highs.📌 Key Resistance Levels to Break for Bullish Momentum:✔️ $3,000 - $3,200 – Immediate resistance zone that must break for a bullish trend continuation.✔️ $3,800 - $4,000 – Major breakout level. A close above this area could trigger a parabolic move.✔️ $5,000+ – Previous all-time high zone, where Ethereum will likely consolidate before its next major move.📌 Support Levels to Watch:🔹 $2,500 - $2,400 – Key demand zone, strong buying pressure expected here.🔹 $2,000 - $1,800 – If ETH breaks down, this will be a must-hold level to maintain a bullish long-term outlook.📌 Indicators:✔️ RSI & momentum indicators support further upside, but a breakout confirmation is needed.✔️ Volume is picking up, signaling strong accumulation in the $2,500+ range.✔️ Bulls need to reclaim $3,200-$3,800 for a major breakout.Prediction & Strategy:📈 Bullish Scenario (Most Likely):Target: $6,700 – Ethereum is poised for a +139% gain if it holds support and breaks through $3,800.Once ETH clears $5,000, it will likely go parabolic toward new highs.📉 Bearish Scenario (Less Likely but Possible):If ETH drops below $2,400, we may see a retest of $2,000 - $1,800 before the next major uptrend.A breakdown below $1,800 would invalidate the bullish thesis.Final Thoughts – Why ETH is a Strong Buy for 2025🚀 Ethereum is massively undervalued and has NOT yet hit an all-time high this cycle—this gives it more upside potential compared to BTC.🔸 ETH is near ascending channel support, making this an ideal buying opportunity before it starts its next big rally.🔸 Price Prediction: $6,700 in 2025 🚀📊 Overall Bias: Strong Buy ✅🎯 Short-Term Target: $3,500 - $4,000🎯 Mid-Term Target: $5,000+🎯 Long-Term Target: $6,700+💡 ETH remains one of the smartest investments for this bull run. Don't miss the breakout! 🚀🔥