Technical analysis by Khiwe about Symbol ETH: Sell recommendation (8/11/2025)

Hi there, let's take a look at ETHUSDT. 📱 Technical Overview: - *Current Price: Approximately 4285, approaching a significant resistance zone. - *Resistance Level: Near 4348, which has historically acted as a resistance level where price struggles to break through. - *Support Zones: Identified around key Fibonacci retracement levels as follows: - 0.236 at 4046 - 0.382 at 3859 - 0.5 at 3707 - 0.618 at 3556 - 0.786 at 3340 🎙️ Outlook: - The price is consolidating near resistance right now, suggesting a potential bullish breakout or a rejection leading to a pullback due to the pin-bar price rejection. - Fibonacci retracement levels indicate critical support zones, where price may find stability in those areas if a drop in prices occurs. - Prior to starting an upward trend again, I anticipate a potential decline towards the support at about 3800. - The projected targets (TP1 and TP2) suggest a bullish scenario where, following a retracement, Ethereum could rally towards 4890. 🧩 # Potential Scenarios: 1. *Bullish Breakout: If ETH manages to clear the resistance at 4348 with strong volume, then a rally towards higher targets could occur. 2. *Pullback and Rebound: If the resistance holds, then we can anticipate a drop to support levels near 3857 or 3556. A strong bounce from these levels could set the stage for future upward moves. 3. *Failure to Hold Support: A break below support zones could lead to deeper corrections; thus, it will need monitoring. Happy Trading Khiwe. Not trading advice.Scenario 1 happened.