Technical analysis by MYWORLD115 about Symbol ETH: Buy recommendation (5/13/2025)

Daily Chart (1D) OverviewThe daily chart reflects a powerful bullish breakout, where ETHUSD surged past prior resistance levels, now potentially turning into support. Key observations:Support Zones:The $2,300 to $2,400 zone has emerged as a strong demand area. This zone was previously resistance and has now flipped into support after the breakout.A deeper retracement could potentially revisit the $1,750 to $1,850 demand area, though that would suggest a breakdown of current bullish momentum.Resistance Zones:The price is currently testing minor resistance around $2,600 and $2,650, with historical supply and reaction zones visible from previous consolidation.A broader supply zone exists between $2,800 to $3,400, marked in red, which could be the next major target area if the bulls maintain momentum.Structure:ETH formed a higher low in late April followed by a higher high in early May, confirming a trend reversal from the earlier bearish structure.The clean breakout from consolidation signals a fresh bullish leg, with increasing volume and momentum indicators likely aligning with upward bias.Trend Direction: Bullish on both Daily and 4H✅ Market Structure: Higher highs and higher lows✅ Key Short-Term Support: $2,350 to $2,450✅ Key Resistance Zones: $2,620 to $2,650 → $2,800 → $3,400✅ Upside Targets:1. Short-Term: $2,650 → $2,8002. Medium-Term: $3,400 → $4,108 ✅ Potential Retracement Levels:3. Shallow: $2,4204. Deeper: $2,200 and $1,850If the price holds above $2,400, the bullish outlook remains intact, with increasing likelihood of testing higher resistance levels. However, a sustained move below $2,300 could trigger deeper retracements.