Technical analysis by MoriartyTrading about Symbol ETH: Buy recommendation (2/19/2025)

📊 Overview of the ETHUSDT.P Situation on 4H and 1D Timeframes✅ Trend and Technical Indicators: ➡️ The chart shows a strong downtrend that began in late December 2024, when the price dropped from a peak of around 3400 USDT to 1620 USDT by March 2025.➡️ A correction followed, with the price recovering to around 2100 USDT, where it is currently consolidating.✅ Volume: The volume at the bottom of the chart was high during the drop, confirming the strength of the bearish trend. Now, volume is decreasing, which may indicate a weakening momentum.✅ Patterns: A Rising Wedge pattern is forming on the chart — typically a bearish signal, especially after a strong downtrend. This may suggest a potential reversal to the downside.➡️ A Falling Wedge pattern appeared earlier, and its breakout upward gave a short-term bullish impulse.✅ Positive Factors: ➡️ Price bounced from a strong support level at 1620 USDT, which gives bulls hope for recovery.➡️ Declining volume may indicate seller exhaustion.➡️ The earlier breakout of the Falling Wedge supports the current correction.✅ Negative Factors: ➡️ The Rising Wedge now forming is a bearish pattern, and a breakdown could lead to further decline.➡️ The overall trend remains bearish, and price has yet to break through key resistance levels (e.g., 2400 USDT).➡️ The crypto market, especially ETHUSDT.P remains volatile, and external factors (news, macroeconomic conditions) could significantly impact movement.📉 4H Timeframe: ➡️ A Rising Wedge is forming; price is testing the upper boundary of the wedge and a key resistance level at $2,101.➡️ There's a potential retracement zone targeting $1,839 — aligned with the lower edge of the wedge and a liquidity area.➡️ Support exists at $2,068 and $2,041, but if the wedge breaks downward, the decline may accelerate.➡️ Volume is increasing, confirming active participation and the importance of this zone.📈 1D Timeframe: ➡️ ETHUSDT.P bounced from a demand zone and is currently testing the $2,100 area.➡️ The next strong resistance lies between $2,308–$2,367, and the previous downtrend hasn’t been fully broken yet.➡️ There's a glimmer of strength on the daily (a +4.5% candle with notable volume), but the move is not yet confirmed as a sustained uptrend.➡️ A breakout from the Falling Wedge is confirmed — a bullish pattern that played out.➡️ Price has broken above the descending channel (orange line), increasing the likelihood of a trend reversal.➡️ The measured target from the wedge breakout is around POC $3,373, aligning with previous volume accumulation — ambitious but logical.⚠️ Risks / Limitations: ➡️ If price fails to hold above $2,101 and drops below $2,068, a return to $1,955 or even $1,839 is possible.➡️ Volume is present but the momentum must be confirmed in the next 1–2 days.📍Important Note: 👉 On 4H – a bearish setup is forming. 👉 On 1D – a weak recovery attempt, still under pressure.👉 A reaction from the $2,100 zone is critical: either a rejection downward (per the wedge), or a breakout that invalidates the bearish setup.👉 This area is a decision zone — a key point for planning potential trades.📢 Conclusion: A breakout, retest, and confirmation of the structure and volume are visible.🔵 Bullish Scenario: ➡️ The Falling Wedge breakout confirms a bullish impulse. The target at 3373.83 USDT looks realistic long-term, if price breaks 2100 USDT and holds above 2400 USDT.➡️ To confirm this scenario, we need volume growth and a breakout of major resistance levels (e.g., 2400 USDT and above).🔴 Bearish Scenario: ➡️ The Rising Wedge identified earlier remains valid. If this pattern plays out, the price may drop to 1901.73 USDT or even lower, to 1620 USDT.➡️ The long-term downtrend (marked by a red line) is still intact, supporting the bearish outlook.📉 LONG ETHUSDT.P from $2102.90🛡 Stop loss at $2083.00🕒 Timeframe: 1D (Mid-term idea)✅ Overview: ➡️ ETHUSDT.P Falling Wedge breakout confirmed on the daily chart.➡️ Successful retest of the $1,955–$2,041 zone.➡️ Holding above $2,101 opens the way to higher levels.➡️ Volume is increasing post-breakout — confirming buyer interest.➡️ Next strong resistance block lies between $2,308–$2,522. 🎯 TP Targets: 💎 TP 1: $2112.00 — nearest resistance and key liquidity zone.💎 TP 2: $2125.00 — a critical daily level, zone of pullback from previous drop.💎 TP 3: $2134.00 — potential impulse target toward major POC ($3,373).📢 If price fails to hold above $2,068 and breaks below $2,041 — the setup is invalidated.📢 A retest of $2,101 from below may be needed before a stronger upward move.📢 Volume support at $1,955 is critical for the bullish case.🚀 ETHUSDT.P is forming a potential mid-term reversal — if price holds above $2,101, a move toward $2,200+ and beyond is expected.