#ETHReclaims3800 🔄 General trend

According to multiple platforms such as TradingView, Investing.com, or Bitget, the predominant technical signal for ETH on the daily chart is "Strong Buy" or "Buy," both in moving averages and oscillators.

On Bitget, for example, no indicator signals a sell: 17 indicate a buy and 8 are neutral.

📈 Key levels

Immediate resistance between $3,825 and $3,896: there is a large cluster of holders in that range, which has caused recent rejections.

Initial support around $3,635, followed by the critical level of $3,490, where there is significant accumulation.

If it surpasses $3,896, technical targets point to the zone $4,100–4,200, and even to $4,402.

📊 Technical indicators and patterns

The Exchange Supply Ratio (ESR) is at lows (≈ 0.145), indicating little ETH supply on exchanges and strong structural demand.

The validator queue has risen to 633,000 ETH (~July 23), showing that some investors are exiting staking, which could put downward pressure if the trend continues.

Some analysts have identified a Descending Broadening Wedge pattern, similar to what was observed in 2019‑2020, with potential breakout upwards towards $8,000–10,000.

📉 Momentum and technical ratio

The 14-day RSI is at ≈78–87, indicating overbought conditions but with no signs of imminent pullback.

The ADX index highlights trend strength (≈47) and as long as it does not exceed 0.02 funding in futures markets, the structure is considered healthy.