Technical analysis by samee_tehreek about Symbol ETH: Buy recommendation (5/18/2025)

Date: 18th May, 2025Prepared by: MusarratEthereum is currently undergoing a retracement phase after a strong bullish rally. A Fibonacci retracement tool has been applied from the recent low around $1,577 to the swing high of $2,742.75 to identify key levels of potential reversal.Key Technical Levels:Fibonacci Retracement Zones:0.236: $2,572.75 (minor resistance)0.382: $2,467.660.5: $2,382.99 (current price nearing this zone)0.618: $2,298.71 (strong retracement zone)0.786: $2,176.73Buy Limit Order:Entry Price: $2,415Positioned between the 0.5 and 0.618 retracement levels—an optimal buy zone based on historical retracement behavior.Stop Loss: $2,174Placed just below the 0.786 retracement level to allow room for price fluctuation while protecting downside risk.Take Profit Targets:TP1: $2,732 – Near the previous swing high and a key resistance level.TP2: $3,210 – A projected extension level, marking a strong bullish continuation if the uptrend resumes.Indicator Analysis:RSI (14): Currently at 61.05, indicating bullish momentum still holds, but approaching neutral territory. A bounce from current levels would confirm strength.Conclusion:The chart suggests a healthy retracement within an uptrend. A buy limit at $2,415 offers an opportunity to enter the market at value, targeting a rebound toward previous highs and beyond. The setup is supported by:Retracement to golden ratio zones (0.5–0.618)Strong RSI trend above 60Clear stop-loss and reward levels offering favorable risk-to-reward ratioStrategy:Wait for price to trigger the Buy Limit at $2,415. If filled, monitor for price action confirmation and manage trade towards TP1 and TP2.