ETH/USDT – Key Fibonacci Retracement Bounce & Bullish Reversal
📊 ETH/USDT – Key Fibonacci Retracement Bounce & Bullish Reversal Potential
Asset: Ethereum (ETH)
Pair: ETH/USDT
Exchange: Binance
Timeframe: 1D (Daily)
🔍 Technical Breakdown:
Fibonacci Confluence Zone
Price has retraced exactly into the 0.618 Fibonacci level (2,193 USDT) from the previous swing low to swing high.
This level often acts as a strong demand zone, indicating potential for a reversal or strong reaction.
Support & Volume Cluster
The red zone marked between 2,148–2,266 USDT is a historical support range with visible buying volume support (Vol: 279.54M), suggesting buyer interest.
Bullish Recovery Projection
The bullish projection targets a 44.40% upside move toward 3,272 USDT, aligning with the Fibonacci extension and previous resistance near 2,911.76 – 3,200.
Stochastic Oversold
The Stochastic oscillator is currently in the oversold territory, signaling that downward momentum is weakening and price may be preparing for a bullish crossover.
🎯 Trade Plan:
Entry Zone: Between 2,148 – 2,266 USDT
Stop Loss: Below 2,148 USDT (invalidate the structure)
Primary Target: 2,505 – 2,911 USDT
Extended Target: 3,272 USDT
Risk-to-Reward (RR): ~8.53
🧠 Professional Commentary:
"This setup shows a textbook bullish retracement to the golden zone (61.8%) of a mid-term uptrend. If price holds this key area and forms a reversal structure, it could mark the beginning of a major recovery leg. Risk is tightly defined, and reward potential is highly attractive. Patience and precision will be key." 💼📈
Asset: Ethereum (ETH)
Pair: ETH/USDT
Exchange: Binance
Timeframe: 1D (Daily)
🔍 Technical Breakdown:
Fibonacci Confluence Zone
Price has retraced exactly into the 0.618 Fibonacci level (2,193 USDT) from the previous swing low to swing high.
This level often acts as a strong demand zone, indicating potential for a reversal or strong reaction.
Support & Volume Cluster
The red zone marked between 2,148–2,266 USDT is a historical support range with visible buying volume support (Vol: 279.54M), suggesting buyer interest.
Bullish Recovery Projection
The bullish projection targets a 44.40% upside move toward 3,272 USDT, aligning with the Fibonacci extension and previous resistance near 2,911.76 – 3,200.
Stochastic Oversold
The Stochastic oscillator is currently in the oversold territory, signaling that downward momentum is weakening and price may be preparing for a bullish crossover.
🎯 Trade Plan:
Entry Zone: Between 2,148 – 2,266 USDT
Stop Loss: Below 2,148 USDT (invalidate the structure)
Primary Target: 2,505 – 2,911 USDT
Extended Target: 3,272 USDT
Risk-to-Reward (RR): ~8.53
🧠 Professional Commentary:
"This setup shows a textbook bullish retracement to the golden zone (61.8%) of a mid-term uptrend. If price holds this key area and forms a reversal structure, it could mark the beginning of a major recovery leg. Risk is tightly defined, and reward potential is highly attractive. Patience and precision will be key." 💼📈
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.