ETH Rejects from 0.618 Fibonacci — $1,540 in Sight?Ethereum has rejected from a key resistance cluster around the 0.618 Fibonacci level. With price slipping below the point of control, downside continuation toward $1,540 looks increasingly probable — unless bulls step in soon.
Key Highlights:
Confluence Resistance Zone: 0.618 Fib, daily resistance, and descending VWAP capped recent price action.
POC Lost: The local point of control has broken down, showing sellers are dominating the short-term range.
Lower Structure Forming: Ethereum is setting lower highs, with $1,540 as the next key support and potential draw for price.
Full Analysis:
ETH/USD has stalled under a strong resistance zone combining the 0.618 Fibonacci retracement, daily structure, and a descending VWAP from the prior lower high. After multiple failed attempts to break higher, price is rolling over — and has now lost the local volume point of control (POC).
This breakdown suggests that value is no longer being accepted at this level, and we may see a rotation lower. Ethereum is also forming a short-term bearish structure — with lower highs and weak attempts at reclaiming lost levels. The next key support sits at $1,540, which also aligns with unfilled inefficiencies and resting liquidity from previous upside moves.
If ETH loses the recent swing low, a move toward $1,540 becomes increasingly likely. However, a reclaim of the POC could indicate this is just a fakeout before buyers attempt another breakout.
What to Watch Next:
Hold above current swing low = potential bounce.
Break below = opens path to $1,540.
Reclaim of POC = short-term bullish invalidation.
