$ETH approaches $4,050 ā Will Fibonacci 1.618 extension unlock new highs?
1. Yesterdayās Recap ā August 8, 2025
1H timeframe:
Yesterday, Ethereum held within the $4,000 ā $4,050 range, testing the upper boundary of the rising channel. RSI hovered around 52ā55, indicating a moderate advantage for buyers. MACD remained positive, but momentum was limited. Hourly trading volume was slightly lower compared to previous days, suggesting a pause before a potential breakout.
4H timeframe:
On the 4-hour chart, ETH stayed above $3,980 support (Fibonacci 38.2% of the last impulse). RSI hovered near 60, and MACD kept its bullish signal. Volume increased when testing $4,050, suggesting that buyers are actively defending this level.
Fibonacci levels (3,900 ā 4,070 USD):
38.2% ā $3,980 (local support)50% ā $3,985 (equilibrium)61.8% ā $3,960 (deeper support)1.618 extension ā $4,150 (breakout target)
2. Current Market Situation ā August 9, 2025
1H timeframe:
$ETH is currently trading around $4,045, nearing the $4,050 resistance zone again. RSI has risen to 57, and MACD confirms the uptrend. Volume is moderate but shows a slight increase as price approaches resistance, potentially signaling an upcoming breakout attempt.
4H timeframe:
$ETH continues to hold above $3,980 support. RSI is around 62, MACD remains bullish. Volume in this timeframe is stable, with no significant decline, indicating that buyers remain active and could be preparing for new highs.
3. Market Outlook
Bullish scenario: A breakout above $4,050 with increasing volume could open the path towards $4,150 (Fibonacci 1.618).
Bearish scenario: Losing the $3,980 support may lead to a drop towards $3,960 or even $3,920.
4. LONG Setup
Entry: $4,055Stop Loss: $4,020TP1: $4,090 (local resistance)TP2: $4,120 (before 1.618 ext)TP3: $4,150 (Fibonacci 1.618)
5. SHORT Setup
Entry: < $3,980Stop Loss: $4,020TP1: $3,960 (Fibonacci 61.8%)TP2: $3,940 (local support)TP3: $3,920 (lower support from previous consolidation)
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