$ETH Technical Analysis 👇🏻💥🚀

Ethereum (ETH) is trading at approximately $1,796, reflecting a modest intraday gain. Despite this uptick, ETH remains down nearly 51% year-to-date, underperforming major cryptocurrencies like Bitcoin and Solana .

Technical Overview:

• Trend Analysis: ETH has exited its recent corrective phase and is forming a new uptrend. The Elliott Wave outlook indicates a developing three-wave bullish structure, with potential targets around $2,478.18 . 

• Support & Resistance: Key resistance levels are observed at $2,080 and $2,100, with further hurdles at $2,120 and $2,200. Support levels are near $2,040 and $2,025, corresponding with the 61.8% Fibonacci retracement level from the $1,980 to $2,104 rally . 

• Momentum Indicators: The Relative Strength Index (RSI) is currently in the neutral range, suggesting room for upward movement without immediate overbought conditions .

Market Sentiment:

The Fear & Greed Index is displaying a score of 60 (Greed), indicating bullish sentiment among investors . Additionally, accumulation addresses have seen the highest weekly inflow in 2025, signaling renewed confidence among long-term holders .

Outlook:

While Ethereum faces strong resistance levels, the formation of a new uptrend and positive market sentiment suggest potential for upward movement. However, investors should remain cautious of macroeconomic factors and regulatory developments that could impact price dynamics.