Technical analysis by Wavervanir_International_LLC about Symbol ETH: Buy recommendation (8/3/2025)

Technical Context Price completed a 5-wave decline into Wave 4 support at $3,246 (1.236 Fib extension of Wave 3) within a rising pitchfork channel Expect a multi-leg accumulation between the orange lower pitchfork line and the red median line before resuming the up-trend Accumulation Trajectory Initial Leg: Bounce off $3,246 → rally to $3,563 (0.618 Fib of the entire drop) Secondary Pullback: Retrace toward the orange trendline (~$3,400) Subsequent Rallies: Series of higher lows along orange support, testing channel median at ~$3,600–3,650 Final Shakeout: Quick flush toward $3,300–3,350 to clear weak hands before impulsive leg Intraday Trade Plan Entry Zones Tier 1: Near $3,260–3,280 (first swing low) Tier 2: Along orange rising support (~$3,350 on strength) Targets Partial at $3,563 (0.618 retracement) Full exit near red median line (~$3,625–3,650) Stop-Loss Below $3,230 (just under accumulation low) Position Sizing Risk ≤ 0.5% of account per leg; scale in on confirmation candles “Fear in China might prompt a sell-off; use these dips to accumulate for the next impulsive wave.” References Murphy, J. J. (1999). Technical analysis of the financial markets. New York, NY: New York Institute of Finance. Prechter, R. R., & Frost, A. J. (2005). Elliott wave principle: Key to market behavior (10th ed.). New Classics Library.