ETH/USDT – Waiting for Retracement After Strong Impulse MoveEthereum has shown a strong impulsive rally from the $1,750 zone, breaking through key resistance levels. Now, price is approaching a major supply zone and resistance between $2,450–$2,600, suggesting a potential pullback.
🔹 Technical Highlights:
The current move is a clean vertical impulse leg with little consolidation — a retracement is likely before continuation.
Key Fibonacci retracement levels are drawn from the recent swing low to high:
0.382 Fib: $2,218
0.5 Fib: $2,125 (Buy Zone)
0.618 Fib: $2,067
A support block and potential bullish reaction zone is aligned with the 0.5 Fib level, marked as a “Buy Here” zone.
RSI is deeply overbought (~86), increasing the likelihood of a temporary correction.
🟢 Trade Plan Summary:
Scenario : Price rejects from $2,450–$2,600 resistance, pulls back to the 0.5–0.618 Fib zone, and then resumes bullish momentum.
Buy Zone: Around $2,125, with confluence from Fib, structure, and trendline support.
Buy Zone: Around $2,125, with confluence from Fib 0.5, structure, and support.
Target: New highs above $2,600, possibly heading toward $3,000+ in the medium term.
📌 Outlook: Bullish on confirmation of pullback support — waiting for healthy retracement for re-entry.
