Technical analysis by Maddox_Metrics about Symbol ETH on 10/20/2025

Nothing has changed for me on the ETH macro. The pullback was shallow for a wave 2 not even hitting the weekly pivot or 0.382 Fibonacci retracement. We expect wave 2 to be a sharper drop to at least the 0.382. This has me skeptical about higher straight away without further downside. If the bottom is in then wave 3 should kick in and be a powerful move into price discovery with initial target of the R5 weekly pivot $8500 Further downside should be expected as we are below major High Volume Node resistance, weekly RSI is bearish with rom to fall. The first target is the weekly pivot at $3200, followed by the rising weekly 200EMA, High Volume Node support and 0.5 Fibonacci retracement at $2600 Safe trading