Categories: Technical analysis

Ethereum Wave Analysis – 4 August 2025

Ethereum: ⬆️ Buy

– Ethereum reversed from the key support level 3400.00

– Likely to rise to resistance level 3800.00

The Ethereum cryptocurrency recently reversed from the support zone between the key support level of 3400.00 (formerly a resistance level from January) and the upper trendline of the recently broken up channel from May.

This support zone was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse from July.

Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 3800.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Ethereum

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