Technical analysis by melikatrader94 about Symbol ETH on 5/24/2025

Hello guys!Ethereum has shown a strong bullish rally, breaking through a long-standing descending trendline with significant momentum. Currently, price action is consolidating above the broken trendline, which may now act as a support zone.🔹 Scenario 1 (Bullish Continuation): If ETH holds above the current range and confirms the broken trendline as support, we could see a continuation toward higher resistance levels around $3,500 and beyond.🔹 Scenario 2 (Deeper Retest): Alternatively, a pullback toward the $2,200–$2,300 area (highlighted zone) could offer a better accumulation point before the next bullish leg resumes.This setup suggests that as long as ETH remains above the key support levels, the bullish structure remains intact.