Technical analysis by vagada about Symbol ETH: Buy recommendation (5/16/2025)

ETH just broke two major barriers:✅ Closed above the 200MA on the weekly✅ Broke out of the pink zone, which marks the textbook double top base from June & December 2024That pink box held price for months — a structural pivot that now flips from resistance to possible support.Price paused into the 50MA, which typically doesn’t offer heavy resistance on the 1W.If we see a pullback, I’m watching for a wick into the 200MA or even into the pink zone. Otherwise, this might just go vertical if macro stays calm.Price is more or less holding at the same levels, with the 200MA still acting as support.Let’s see if tonight’s close brings any meaningful change.PSAR has turned red and price is closing below the 200MA today. That’s enough reason to lock in some profit and step aside—for now, it’s wiser to wait.