🟣 Technical Analysis of Ethereum (ETH) – June 12, 2025
📍 Current price: ~2,766 $
📊 Overall trend: Moderately bullish, moving within a short corrective range
🔎 Technical indicators:
Price surpasses daily moving averages → Key support for upward movement
RSI at ~62 → Remaining space for upward movement before overbought conditions
Chart pattern: Forms a descending wedge, breakout upwards → Clear positive reversal that pushed ETH towards 2,800+
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🛠️ Support and resistance levels:
Type Level Importance
Immediate support 2,745 $ Current price vicinity after breakout
Stronger support 2,700 $ Area that forms a good buying base
Resistance 2,800–2,835 $ Barrier and repeated test, breaking it triggers an upward wave
High target 2,920–3,000 $ Short to medium-term target level upon breaking resistance
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🎯 Scenarios and trading strategy:
✅ Bullish scenario:
Price remains above 2,745 $, and 4-hour candle closes above 2,800–2,835 $ → First target at 2,920 $, then 3,000 $
⚠️ Bearish scenario:
Breaking the level of 2,745 $ → Likely retracement to **2,600 $**
Breaking support at 2,700 $ → Deeper correction wave towards 2,515–2,545 $
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✅ Brief recommendation:
Wait for a bullish 4-hour close above 2,800–2,835 $ for safe entry
Set a stop-loss below 2,740 $
Targets: 2,920$ → 3,000$
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📌 Summary:
Ethereum is at a turning point after breaking a descending wedge, and ready for a rise if it surpasses the important resistance level. However, breaking the support area may bring prices back towards the range.
