Technical analysis by melikatrader94 about Symbol ETH: Buy recommendation (8/31/2025)

Hello guys! Currently, Ethereum is trading inside a clear ascending channel and has just formed a potential inverse head & shoulders pattern near the channel’s support. This setup gives us two possible scenarios: 🔹 Scenario 1: If ETH continues its bullish momentum and breaks above the mid-line of the channel, we could see a strong push toward $5,116, which is also aligned with the channel’s upper boundary. 🔹 Scenario 2: If ETH fails to hold above the current levels, we may first see a retracement back toward the $4,200 – $4,250 support zone (channel bottom). From there, the price can gather momentum and still aim for the $5,116 target in the bigger picture. Conclusion: Both scenarios point toward a bullish bias in the mid-term. The difference lies in whether we get a direct rally (Scenario 1) or a deeper correction before continuation (Scenario 2).scenario 2 is running!