Alright team, let's break down this juicy $ETH chart and see what's cooking. The potential for a massive upside move is looking increasingly likely as major patterns complete.
### Technical Analysis
The Daily chart confirms a decisive bounce from a critical confluence zone. We are seeing a textbook Harmonic Bullish Pattern completion right on the long-term diagonal SUPPORT ZONE. The key technical levels to watch are strong support at $3,458 and immediate resistance around $4,250. Holding the $3,850-$4,000 range sets us up perfectly for a run toward the ATH and the projected target of $5,500.
### Fundamental Analysis
Fundamentally, Ethereum is stronger than ever. The primary narrative remains the highly anticipated potential approval of a Spot ETH ETF in the coming months, which institutionalizes the asset. Additionally, the continuous growth of Layer 2 solutions and protocol improvements like EIP-7702 are increasing network adoption and reinforcing its deflationary status through fee burning.
### Action Plan
This bounce provides a strong entry signal for long-term holders. We should accumulate within the current range, maintaining a tight stop just below the critical $3,450 structural support. If $4,250 breaks, fast moves towards $5,500 are expected.
Highly recommend HOLD and Stacking $ETH at Binance.
Feel free to comment the altcoin you are holding and we will check it for you!
#ETH #Ethereum #TechnicalAnalysis #HarmonicPattern #BinanceSquare #Crypto
