Date: Fri, Oct 31, 2025 | 03:30 PM GMT
The cryptocurrency market is making a slight recovery from yesterday’s heavy selloff that triggered over $1 billion in liquidations, dragging Ethereum (ETH) to a low of $3,679 before buyers stepped in. ETH has since bounced back and is currently trading around $3,860, up by more than 2% today.
But beyond the recovery, the technical setup on lower timeframes suggests something more — a potential bullish reversal may be brewing.
Descending Broadening Wedge in Play
On the 1-hour chart, ETH has been forming a descending broadening wedge, a bullish reversal pattern that typically appears during corrective downtrends. The structure often signals a loss of bearish momentum and precedes a potential trend reversal.
Recently, ETH’s decline brought its price to the wedge’s lower boundary near $3,679, where strong buying pressure emerged. This support level has repeatedly acted as a rebound zone over the past few sessions. Following this test, ETH bounced to current level of $3,859 and is now consolidating just below its 200-hour moving average (MA) at $3,951.
This confluence between wedge support and the key MA level makes the current zone a crucial battleground between bulls and bears.
What’s Next for ETH?
If Ethereum manages to defend the wedge support and close decisively above the 200-hour MA, it could pave the way for a push toward the wedge’s upper resistance trendline — potentially leading to a breakout. A confirmed breakout, followed by a successful retest, could open the door for an extended rally toward the $4,100–$4,200 region.
However, if ETH fails to sustain above $3,800, the price may revisit the lower support trendline once more before any significant upside move unfolds.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
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