Technical analysis by Fx_olivia_queen about Symbol ETH: Buy recommendation (3/12/2025)

Chart Analysis: Ethereum (ETH/USD) on 1-Hour TimeframeKey Observations:Descending Channel Breakout:The chart shows a clear downtrend with a descending channel marked by multiple swing highs and lows (orange circles).A breakout has occurred after price reached the lower boundary, indicating a trend reversal or at least a corrective move.Accumulation/Consolidation Phase:Price is currently ranging sideways within a rectangular support zone (marked in pink).This suggests accumulation, a phase where buyers and sellers balance before a potential breakout.Potential Bullish Move:A projected price path indicates bullish momentum, with an expected breakout above resistance.The next key resistance area is around $2,100, which is highlighted as a take-profit zone.Volume Confirmation:Increasing volume at the breakout of the descending channel supports the possibility of a bullish continuation.The volume spike at the bottom suggests strong buyer interest at lower levels.Trading Strategy Insights:Bullish Bias: The market is likely shifting from a downtrend to an uptrend based on price action and volume.Entry Point: A breakout from the consolidation zone would confirm a move towards higher resistance levels (~$2,100).Stop-Loss: Below the current support range to minimize downside risk.Take-Profit Zone: Around $2,100, where sellers might step in.(ETH-USD) will buy start now