Technical analysis by KECapital about Symbol ETH: Buy recommendation (3/16/2025)

Ethereum - is a smart contract platform that allows developers to build decentralized applications (DApps) on its blockchain.CoinMarketCap: #2↗️ Ethereum is moving within an ascending channel, and the bullish trend remains intact.Inside the channel, there are two triangles. The first triangle, with a base of 88%, has played out—its third wave broke through the triangle.Liquidity grabs and shakeouts before the growth in the inner channel zones are marked with yellow circles.Currently, we see a mirrored situation with a new triangle, this time with a 156% base. However, if this pattern plays out, it will break the ascending channel.At the moment, the price has been dragged below the channel support, and there is a lot of negative sentiment in the news and opinions. Few believe in an upward move, and many have been liquidated. To me, this looks like a strong trigger. ⤵️The bearish scenario implies a -61% drop. (A less likely scenario.)I've marked everything on the chart—consider this in your trading strategy. Remember, there's a lot of negativity around Ethereum, just like with all altcoins...I also believe that on the monthly chart, it will end up being just a wick of the candle.After the trading idea was published, Ethereum followed the bearish scenario. It reached the marked downside target of -14.30% and held the $1615 zone (green horizontal dashed line).The price is moving within a small descending channel. It’s now at a key inflection point near the resistance of this local channel.If it breaks through and consolidates above, a return to the larger primary ascending trend channel is possible.Everything has been updated on the chart, including the targets.On the monthly chart, this could actually turn out to be a solid shakeout of weak hands below the support of the monthly triangle - with a possible move toward the $15,000 area)))A large monthly wick has been left behind.It’s always better to lock in profits in parts during a trend, and leave only a small % of coins for the moonshot targets (but that’s just my personal approach).Here’s the chart I’m referring to: