Technical analysis by Fx_olivia_queen about Symbol ETH: Buy recommendation (3/13/2025)

Range-Bound Consolidation:The price has been moving within a rectangular consolidation zone (highlighted in red), indicating market indecision.The lower boundary of the range ($1,840) is acting as strong support, while the upper boundary ($1,950) is resistance.Potential Breakout Setup:If the price breaks above $1,950, a bullish move toward the $2,025-$2,050 resistance zone (blue box) is expected.A breakout above this level could lead to further upside momentum.Parabolic SAR & Volume Analysis:Parabolic SAR dots have started forming below price action, signaling a potential trend reversal to the upside.Volume spike at support suggests strong buying pressure at the lower boundary.Trading Plan:Bullish Scenario: Buy breakout above $1,950 with a target at $2,025-$2,050.Bearish Scenario: If the price fails to break out and drops below $1,840, further downside is expected.Conclusion: Ethereum is consolidating but shows bullish breakout potential. Watch for a breakout confirmation above $1,950 for a long trade opportunity. 🚀Ethereum (ETH/USD) 1H Chart Notes: Range-bound market: Price is consolidating between $1,840 (support) and $1,950 (resistance). Breakout potential: A move above $1,950 could push ETH towards the $2,025-$2,050 target zone. Parabolic SAR turning bullish: Dots below price suggest a possible uptrend. Volume analysis: Increased buying pressure at support indicates potential reversal. Trading plan: Bullish entry: Breakout above $1,950 with a target at $2,025-$2,050. Bearish risk: If ETH breaks below $1,840, expect downside continuation. 🚀 Monitoring for a bullish breakout!