Technical analysis by Phillipklh about Symbol ETH: Buy recommendation (8/25/2025)

Ethereum is in the final stages of Intermediate Wave 5, which also completes Primary Wave 5 and, in turn, Cycle Wave 1. At the Minor degree, the market is currently unfolding Wave 4, while at the Minute degree we are within Wave C, which is set to complete the corrective Flat structure. If the diagonal structure of this five-wave C continues, the earliest likely completion would occur around 1 pm. From a timing perspective, the end of Wave 4 would align well with the opening of the New York trading session. The alternative scenario assumes that this correction is not yet complete and could evolve into a more complex structure. Looking at liquidity, the order book appears relatively thin below the current level, with a significant cluster of orders around the $5,000 mark. This level also coincides with the first Fibonacci projection for Wave 5, making it a likely sell wall that could eventually trigger a trend reversal. The liquidation heatmap also shows limited liquidity, with small to medium clusters positioned near the 1.618 extension of Wave C. Derivative data paints a neutral picture. Funding rates are balanced, and open interest is stagnant, both of which provide suitable conditions for one final push higher. In conclusion, my bias remains long. I plan to enter long positions around the 1.618 extension level of Wave C. To refine execution, I will set an alert at this level to observe price behavior closely and make decisions based on how the market reacts there. Once this final Wave 5 completes, Ethereum will transition into Cycle Wave 2. In crypto markets, Wave 2 corrections are often very deep, and Elliott Wave theory also expects significant retracements at this stage. Price levels in the $2,000–$3,000 range may therefore reappear. During such a selloff, capital will likely rotate into altcoins, creating fresh opportunities across the broader market.