Technical analysis by ThinkMarkets about Symbol ETH: Buy recommendation (10/3/2025)

Bitcoin breaks through $120K while Ethereum retests critical $4500 resistance. Our analysis reveals why this "Uptober" rally could signal the start of the biggest altcoin surge since 2021. 🚀 Rally catalysts US Government shutdown : Dollar weakness from political uncertainty and Fed policy paralysis "Uptober Effect" : Bitcoin historically averages 20%+ gains in October (currently up 5-6% with 3 weeks remaining) Institutional flows: $4B+ institutional buying, 850K ETH whale accumulation in past 2 weeks Q4 seasonality: Crypto's strongest quarter with historical momentum into year-end 📊 Bitcoin Technical Analysis Pattern : Bullish hidden divergence confirmed with swing high breakout above $118K resistance Current structure : Potential 5-wave Elliott sequence suggesting final impulse leg Key levels : Support at $117K (trendline), resistance cluster $122K-$124K Momentum : RSI recovering, MACD bullish crossover confirms continuation ⚡ Ethereum technical breakdown Weekly setup : Successful retest and hold above $4K support, pennant/triangle breakout in play RSI divergence : Bullish divergence confirmed on multiple timeframes, RSI near 60 (room to 70+) Elliott wave count : Either completing Wave 5 (correction ahead) or early Wave 3 (massive move higher) Cup & Handle : Measured move target to $6,850 based on long-term pattern 🔥 Altseason indicators - Total3 analysis Chart pattern : Cup & handle formation on Total3 (altcoins ex-BTC/ETH) approaching ALL-TIME HIGHS Key level : $1.1T breakout threshold - confirmation needs 3 daily closes above ATH BTC dominance: Break below 60% support signals potential altcoin rotation Targets: $1.2T initial, $1.3T extension if breakout sustains 💹 Trading Strategy ETHEREUM LONG Setup: Entry: $4,300 on pullback (current: $4,500) Stop Loss : Below $4,050 (1.618 Fib extension) Take Profit 1 : $5,200 (2:1 R/R) Take Profit 2 : $6,850 (measured move target) Risk Management : Trail stops above breakeven after TP1 Key levels to watch: Bitcoin : $117K support, $122-124K resistance zone Ethereum : $4,126 critical support, $4,500 resistance, $6,850 long-term target Total3 : $1.1T breakout level for altseason confirmation 🎯 Market outlook October living up to "Uptober" reputation with favourable macro setup. Dollar weakness, institutional flows, and technical breakouts align for potential crypto supercycle. Watch Total3 breakout - if altcoins breach ATH, we could see 2021-style altseason explosion. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.