Technical analysis by CryptoSanders9563 about Symbol ETH on 5/6/2025

ETH/USDT Unique Technical Structure: Large Accumulation + Recovery SetupThis chart shows Ethereum’s price action over the past few years, highlighting key support and resistance areas. A strong visual signal (blue arrow) indicates bullish potential.Chart Pattern Implications:The pattern on this chart is not a classical shape (e.g., cup and handle), but it does show a Wyckoff-style accumulation phase followed by a failed breakout and reaccumulation:Strong base formed between $1,000-$1,400A series of lower highs and a range-bound structure after the 2022 peakThe bullish projection illustrated by the arrows shows a potential recovery towards the ATH againThis setup suggests that Ethereum is at a critical juncture – either:It retests current support and begins a new uptrend.Or it risks another test of the $1,400-$1,050 range before a breakout.Risk-Reward: Current levels ($1,796) offer attractive long-term entries if you’re bullish.Caution Zone: If ETH breaks below $1,400 with volume, $1,050 becomes the next key defense.If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!Thanks for your support!DYOR. NFA