Ethereum 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.
🔹 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.
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.