Ethereum’s price action is showing notable weakness as it tests a crucial Fibonacci level. Currently sitting on the 0.618 retracement, ETH is at a make-or-break point.
A confirmed close below $1,825, the current 0.618 Fibonacci level, would likely signal a deviation and a potential breakdown in structure. This would increase the chances of price rotating down toward the next major support at $1,055, which also aligns with a deeper 0.618 retracement from a higher timeframe — a level of historical significance and potential buying interest.
However, this downside move has not yet been confirmed. As long as Ethereum holds the current support, the structure remains intact. But if acceptance below this range occurs, especially with volume and momentum, it would likely initiate a broader corrective move.
Traders should remain patient and let the setup develop. A breakdown could present a high-probability buy-the-dip opportunity at lower support. Until then, caution is advised as price remains range-bound and vulnerable.