ETHUSDT – Weekly Structure + FVG + Fibonacci Confluence | Potential Long Setup
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📌 Summary
Ethereum is showing signs of basing out after a prolonged downtrend, hovering near a high-timeframe fair value gap (FVG) zone. Weekly RSI is recovering from oversold territory, and the price is reacting around the 61.8% Fib retracement from the macro low to the 2021–22 highs. I'm watching for a potential long if price holds above $1,700 and pushes back toward the $2,000–2,200 supply zone.
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🔍 Fundamentals Snapshot
While crypto is primarily sentiment-driven, ETH remains a core network token with strong utility, staking growth, and continued developer activity.
- Market Cap: ~$220B
- Narrative: Staking yield + DeFi backbone
- Risk: Macro pressure + Regulatory overhang
- Key On-Chain Trends: Supply contraction post-merge, L2 growth, ETH burn
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📈 Technicals Overview
- **Trend**: Downtrend, but flattening; possible bottom structure
- **Fair Value Gap (FVG)**: Weekly FVG between ~$1,550 and ~$1,700 acting as support
- **Fibonacci**: Price reacting to the 61.8% retracement (~$1,800) from the 2020–21 run-up
- **RSI**: Near 40 on the weekly, bouncing from oversold levels
- **Moving Averages**: 8/21 EMAs compressed; momentum shift possible on crossover
- **Structure**: Possible bullish MSB (market structure break) if ETH closes above $1,900
- **Support/Resistance**:
- Support: $1,700, $1,550
- Resistance: $2,000, $2,200
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🧠 Sentiment & Positioning
- Sentiment has been washed out post-liquidation cascade
- Open Interest flattening; some early long buildup visible
- Crypto Twitter showing cautious optimism, no euphoria (bullish)
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Risk/Reward Snapshot
- **Entry**: On pullback toward $1,720–$1,760 or breakout above $1,900
- **Stop Loss**: Below $1,540 (weekly FVG invalidation)
- **Target 1**: $2,000
- **Target 2**: $2,200
- **R/R**: ~2.5 to 3.0 depending on entry
- **Position Size**: Scaled in across FVG zone with tighter risk at midpoint
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📝 Final Thoughts
ETH is at a potential turning point structurally. The weekly FVG, Fib retracement, and improving RSI suggest a favorable risk/reward for swing longs. A confirmed weekly close above $1,900 would increase confidence in a trend reversal. Watching for confirmation via volume expansion and follow-through candles.
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📌 Summary
Ethereum is showing signs of basing out after a prolonged downtrend, hovering near a high-timeframe fair value gap (FVG) zone. Weekly RSI is recovering from oversold territory, and the price is reacting around the 61.8% Fib retracement from the macro low to the 2021–22 highs. I'm watching for a potential long if price holds above $1,700 and pushes back toward the $2,000–2,200 supply zone.
---
🔍 Fundamentals Snapshot
While crypto is primarily sentiment-driven, ETH remains a core network token with strong utility, staking growth, and continued developer activity.
- Market Cap: ~$220B
- Narrative: Staking yield + DeFi backbone
- Risk: Macro pressure + Regulatory overhang
- Key On-Chain Trends: Supply contraction post-merge, L2 growth, ETH burn
---
📈 Technicals Overview
- **Trend**: Downtrend, but flattening; possible bottom structure
- **Fair Value Gap (FVG)**: Weekly FVG between ~$1,550 and ~$1,700 acting as support
- **Fibonacci**: Price reacting to the 61.8% retracement (~$1,800) from the 2020–21 run-up
- **RSI**: Near 40 on the weekly, bouncing from oversold levels
- **Moving Averages**: 8/21 EMAs compressed; momentum shift possible on crossover
- **Structure**: Possible bullish MSB (market structure break) if ETH closes above $1,900
- **Support/Resistance**:
- Support: $1,700, $1,550
- Resistance: $2,000, $2,200
---
🧠 Sentiment & Positioning
- Sentiment has been washed out post-liquidation cascade
- Open Interest flattening; some early long buildup visible
- Crypto Twitter showing cautious optimism, no euphoria (bullish)
---
Risk/Reward Snapshot
- **Entry**: On pullback toward $1,720–$1,760 or breakout above $1,900
- **Stop Loss**: Below $1,540 (weekly FVG invalidation)
- **Target 1**: $2,000
- **Target 2**: $2,200
- **R/R**: ~2.5 to 3.0 depending on entry
- **Position Size**: Scaled in across FVG zone with tighter risk at midpoint
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📝 Final Thoughts
ETH is at a potential turning point structurally. The weekly FVG, Fib retracement, and improving RSI suggest a favorable risk/reward for swing longs. A confirmed weekly close above $1,900 would increase confidence in a trend reversal. Watching for confirmation via volume expansion and follow-through candles.
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Trade active
Easy does it , where there is noise there are profits. Everyone going back and forth. While ETH is just starting its phase back up. 
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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.