Technical analysis by DOCTOR_PIPS05 about Symbol ETH: Sell recommendation (8/4/2025)

Current Price: $3,552 Chart Type: 4-Hour (Coinbase) Analysis: Resistance Zone (Supply Area): The red zone between $3,750–$4,000 indicates a strong resistance area where price faced heavy rejection, forming a potential double top or a distribution pattern. Price Action: Price rallied sharply and then showed signs of reversal from the resistance zone. The sharp drop followed by a lower high suggests bearish momentum building up. Ichimoku Cloud: The price broke below the cloud, indicating a shift in trend toward bearish bias. Projected Move: The chart outlines a bearish trajectory, potentially targeting: First Support / TP1: $2,923 Second Support / TP2: $2,393–$2,386 zone Key Levels: Immediate Resistance: $3,750 – $4,000 Mid Support: $2,923 Major Support: $2,393 – $2,386