Technical analysis by IvyMorgan about Symbol ETH: Buy recommendation (10/23/2025)

ETH/USD is currently moving around $3,825 after a slight bounce from $3,780. This area is considered short-term support, but buyers are weak due to the price continuing below the Ichimoku cloud on the 4-hour frame, which confirms the continuation of the basic bearish trend. The Fair Value Gap areas at $3,900–4,100 constitute dynamic resistance, and any rise towards it may face strong selling. Global economic conditions are putting pressure on digital currencies, with the dollar strengthening after strong PMI data, and waiting for the GDP - PCE report at the end of the week to determine the Fed’s direction. Under these conditions, it is difficult for ETH to rise strongly. The most likely scenario is a test of the $3,750–3,780 support, perhaps clearing liquidity up to $3,700 before a bounce towards $3,950–4,050. If $3,700 is broken with high trading volume, $3,500 becomes the next target for sellers.