📊 ETH/USDT – Key Fibonacci Retracement Bounce & Bullish Reversal Potential

Asset: Ethereum (ETH)

Pair: ETH/USDT

Exchange: Binance

Timeframe: 1D (Daily)

Current Price: 2,271.85 USDT

Change: −0.99%

🔍 Technical Breakdown:

Fibonacci Confluence Zone

Price has retraced exactly into the 0.618 Fibonacci level (2,193 USDT) from the previous swing low to swing high.

This level often acts as a strong demand zone, indicating potential for a reversal or strong reaction.

Support & Volume Cluster

The red zone marked between 2,148–2,266 USDT is a historical support range with visible buying volume support (Vol: 279.54M), suggesting buyer interest.

Bullish Recovery Projection

The bullish projection targets a 44.40% upside move toward 3,272 USDT, aligning with the Fibonacci extension and previous resistance near 2,911.76 – 3,200.

Stochastic Oversold

The Stochastic oscillator is currently in the oversold territory, signaling that downward momentum is weakening and price may be preparing for a bullish crossover.

🎯 Trade Plan:

Entry Zone: Between 2,148 – 2,266 USDT

Stop Loss: Below 2,148 USDT (invalidate the structure)

Primary Target: 2,505 – 2,911 USDT

Extended Target: 3,272 USDT

Risk-to-Reward (RR): ~8.53

🧠 Professional Commentary:

"This setup shows a textbook bullish retracement to the golden zone (61.8%) of a mid-term uptrend. If price holds this key area and forms a reversal structure, it could mark the beginning of a major recovery leg. Risk is tightly defined, and reward potential is highly attractive. Patience and precision will be key." 💼📈