Technical analysis by CryptoKnee about Symbol ETH: Buy recommendation (8/16/2025)

Played out nicely since last update. Ethereum has held near the level highlighted in the last update and, after a correction, pushed into the wave 3 most likely target. Price rejected from that area without yet breaking the all-time high. If this wave 3 has completed, which isn’t confirmed yet, the Elliott Wave count suggests caution. A wave 4 at the higher degree could be next. To gain clarity, we’ll need to see a few key pivots broken. The completion of a smaller 5-wave move lining up with the higher-degree wave 3 target is a clue this may be the spot to pause and evaluate. The way this retracement unfolds will help decide which degree it belongs to and set expectations for what comes next.