1.📊 Annotation to technical analysis 02/08/2025 for #Ethereum (#ETH ), timeframe 1 week:

On the weekly chart, ETH is experiencing a corrective decline. The price is testing a key support zone: $3460–$3138. In the event of a breakout below this range, a continued decline down to the test of the neckline of the previously broken 'Rounded Bottom' formation in the range of $2863–$2598 is possible.

The current correction fits within the framework of a long-term structural breakdown that broke the 'Rounded Bottom' and corresponds to Fibonacci zones 0.5–1.0. A possible stop and reversal to long is expected near these levels. The potential growth target is up to $5647.75 (level -1.0 on Fibonacci), upon confirmation of a rebound.

🔍 The picture remains bullish if key support zones are held.

2. 💵 Processing the Annotation to technical analysis for #Ethereum (#ETH), timeframe 1 week

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