Technical analysis by ScottMelker about Symbol ETH: Buy recommendation (6/10/2025)

Ethereum is in an interesting spot. It is sandwiched between the weekly 50 and 200 MAs, both key areas to watch on any chart. It has been trading between these lines for the better part of 6 weeks, astounding compression and consolidation. A close above the 50 would signal major upside is likely, while a close back below would mean this run is likely over. As you can see, we have wicks on almost every candle testing each.My bias is up.