๐น Current Price: $1784
ETH currently trades at a key support zone near $1784. A break below the ascending trend line and 0.236 Fibonacci level suggests potential bearish continuation. The chart shows two key scenarios:
๐ป Bearish Path:
If the support fails, ETH could drop towards key Fibonacci levels:
0.382 Fib @ ~$1705
0.5 Fib @ ~$1640
0.618 Fib @ ~$1580
Strong rebound zone expected near 0.75โ0.786 Fib @ $1500โ$1530
๐ผ Bullish Recovery:
A bounce from current or lower levels could lead to a breakout above $1800
Target: $1950+ if trend line reclaim succeeds
๐ Trading Strategy Tip:
Wait for confirmation at Fib levels. Watch for reversal patterns (e.g., double bottom, bullish engulfing) near the 0.618 or 0.786 Fib for a long setup.