Technical analysis by rackly about Symbol ETHFI on 5/23/2025

The graph shows that a large W-X-Y correction structure is completed in the ETHFI parity. Following this structure, the price has started to create a new upward impulsive structure from the bottom level. The first five rise wave has been completed and as of now, it is observed that a correction process after this rise is entered. However, an important technical development is that the 0-4 trend line formed after this five-rise wave is broken downward. This fracture strongly points to the fact that the upward movement is completed in the short term and that a correction process begins. In this context, it is possible that the wave B will develop downward and decrease to two important support regions (0.828 and 0.620–0.575 USDT range). These levels are also regions where liquidity and demand are intensified in the past. If the correction ends in these areas, a strong C wave can be expected. This C wave price can carry up to the major resistance/supply zone at the level of 6.36 USDT. After the completion of the “B” wave, a new trend can be expected with the “C” wave.