Technical analysis by ManiMarkets about Symbol ETH: Buy recommendation (9 hour ago)

ETH Recovery Underway: Momentum Building! Ethereum (ETH) is currently showing signs of a potential bullish reversal on the 4-hour timeframe. After a significant correction from the 4800-4900 "Sell Order Block" and breaking down through the 4500 "Flip Zone," ETH found strong support around the 3850 key level. From that low, we've observed the formation of an ascending trendline, indicating a series of higher lows and a gradual recovery in buying interest. The price has successfully climbed back above the 4000 psychological support level and is now testing a more immediate resistance zone, as indicated by the smaller gray box. A decisive break above this current resistance, potentially pushing towards the 4500 "Flip Zone" again, would significantly strengthen the bullish case. However, maintaining price action above the ascending trendline and the 4000 level is crucial to sustain this recovery momentum. Failure to hold these levels could see ETH retesting the 3850 key support. Disclaimer: The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.