Idea Summary:
Ethereum is currently in a consolidation phase after testing the $2,700–$2,750 zone. Using Fibonacci retracement and extension levels, I anticipate a potential bullish continuation pattern forming above key support zones, with eyes on higher targets.
🔍 Technical Analysis:
Current price: ~$2,540
Key Fib retracement levels:
0.786 – ~$2,347 → holding as immediate support
0.618 – ~$2,222
0.5 – ~$2,064
0.382 – ~$1,906
Resistance zone: ~$2,734 (Fib 1.0)
Main breakout target:
1.618 extension – $3,563
2.618 extension – $4,904 (longer-term projection)
Price action suggests a potential bullish structure forming – a possible inverse head & shoulders or ascending triangle pattern.
Bullish Scenario:
If ETH holds above $2,300–$2,350 and breaks above the $2,730 resistance, we could see a surge toward the $3,560 level (1.618 Fib extension), with the possibility of entering a parabolic leg toward $4,900+ in the longer run.
Bearish Scenario:
If ETH fails to hold above the 0.786 level ($2,347), the next downside supports are:
$2,222 (0.618)
$2,064 (0.5)
These levels could offer new long entries depending on reaction.
Conclusion:
Ethereum is forming a solid base for the next move. As long as bulls protect the $2,300 zone, the chart favors upside continuation. A break above $2,750 would confirm strength and may trigger a powerful bullish extension.
Ethereum is currently in a consolidation phase after testing the $2,700–$2,750 zone. Using Fibonacci retracement and extension levels, I anticipate a potential bullish continuation pattern forming above key support zones, with eyes on higher targets.
🔍 Technical Analysis:
Current price: ~$2,540
Key Fib retracement levels:
0.786 – ~$2,347 → holding as immediate support
0.618 – ~$2,222
0.5 – ~$2,064
0.382 – ~$1,906
Resistance zone: ~$2,734 (Fib 1.0)
Main breakout target:
1.618 extension – $3,563
2.618 extension – $4,904 (longer-term projection)
Price action suggests a potential bullish structure forming – a possible inverse head & shoulders or ascending triangle pattern.
Bullish Scenario:
If ETH holds above $2,300–$2,350 and breaks above the $2,730 resistance, we could see a surge toward the $3,560 level (1.618 Fib extension), with the possibility of entering a parabolic leg toward $4,900+ in the longer run.
Bearish Scenario:
If ETH fails to hold above the 0.786 level ($2,347), the next downside supports are:
$2,222 (0.618)
$2,064 (0.5)
These levels could offer new long entries depending on reaction.
Conclusion:
Ethereum is forming a solid base for the next move. As long as bulls protect the $2,300 zone, the chart favors upside continuation. A break above $2,750 would confirm strength and may trigger a powerful bullish extension.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.