Technical analysis by FOREXcom about Symbol ETH: Buy recommendation (12/11/2025)

ETH/USD has put in a topping pattern on the daily tick, printing a shooting star candle after a failed bullish probe above the interaction of the 50 and 200DMAs. As things stand, Thursday’s candle would complete an evening star bearish reversal pattern should it close around these levels or lower, doubling down on the bearish signal. However, I don’t trust the broader risk-off move in Asia, apparently sparked by renewed concerns about AI capex following an update from Oracle. I suspect it’s just as much about yen strength weighing on the Nikkei after the Fed’s not-so-hawkish cut delivered on Wednesday. With a near-perfect correlation between Nikkei futures and risk assets such as Ethereum on a one-minute tick over the past hour, it feels like the move may be faded once Europe gets up and running. I’m watching $3,200 closely into the changeover as it screens as an ideal level to build trades around, given it provided both support and resistance over the past month. If the price holds beneath $3,200 into Europe, consider initiating shorts with a stop above for protection, targeting either $3,000 or $2,916 initially. But if the price reverses back above $3,200 and holds there, the option is there to set longs with a stop beneath for protection, targeting the confluence of the 50 and 200DMAs or Wednesday’s high above $3,450. The momentum picture is neutral, putting more emphasis on price action when assessing both setups. Good luck! DS