Technical analysis by cryptodailyuk about Symbol ETH on 12/9/2025

📊 ETH ANALYSIS – 1h 🔥 1. Key Fact on the Chart We have a very strong upward impulse that: Breaked the upper band of the descending channel (blue) Touched the upper line of the ascending channel (orange) Was immediately rejected (long wick) The MACD shows extreme overbought + potential divergence in the making Such a move usually indicates a short squeeze + profit-taking → i.e., a temporary weakening and a retest of the breakout. 🎯 2. Price areas I see on your chart Green (resistance/TP for longs): 3479–3490 – structural highs, strong resistance 3420 – local resistance 3375 – first real resistance after the breakout Red (support/defense levels of the structure): 3338–3348 – first test zone after the breakout 3293 – key level — sustain = trend continuation 3180–3200 – consolidation zone broken (likely retest) 📉 3. What does the current wick mean? This giant wick signals: short liquidations lack of demand for a continuation after the first resistance breakout high probability of a return to the range possibility of a retest of the breakout (around 3185–3210) This doesn't look like a classic breakout with a continuation, but rather a fakeout and the need for a correction. 📈 4. Scenarios ➡️ Bullish (more likely if 3293 holds) Price falls to the 3338–3293 zone Builds a local HH/HL Starts a move to 3375, then 3420 If 3420 breaks → target 3480–3500 ➡️ Bearish (if price loses 3293) Retest from the bottom of 3293 Return to the blue channel Target: 3185–3200 If this level breaks → 3050–3080 (lower band of the channel) 📟 5. MACD MACD is: extremely stretched signal line begins to collapse histogram decreases after Explosion → This almost always means a local intraday high + a drop to support.