📉 [TECHNICAL ANALYSIS ETH/USDT – TIMEFRAME 1D] 🚨
The current movement of ETH is very interesting to observe! With the current price at $2,429, Ethereum is in a significant Fibonacci retracement area and just above the long-term trend line (white ascending line) that has been established since 2023.
🔍 STRUCTURE & PATTERN:
📐 The AB=CD pattern has formed with strong symmetry, where point D is currently in the Fibonacci support area of 0.5–0.618. This means it could be a rebound zone if not broken.
📊 Fibonacci Retracement from swing low ($1,073) to swing high ($4,091):
0.382: $2,940 — strong resistance
0.5: $2,584 — light resistance, already rejected
0.618: $2,227 — currently important support
📈 The Ascending Trendline (White) from 2023 still holds as dynamic support. ETH has just touched and bounced off this line.
🔧 SUPPORTING INDICATORS:
RSI (Relative Strength Index): approaching neutral zone (50), potential to rise if a breakout occurs. No signs of extreme overbought/oversold.
MACD: starting to narrow — signals that a significant movement is forming.
📌 PREDICTION OF NEXT DIRECTION:
✅ Bullish Scenario:
If ETH can break and hold above $2,478 (Fibonacci resistance 0.382), then:
Target rise to $2,553
Potential further to $2,940 (Fib 0.382 from full swing)
⚠️ Bearish Scenario:
If ETH breaks down from the ascending trendline and fails to hold above $2,227:
Potential drop back to the $2,100–$2,000 area
If this support is broken, ETH could retest the $1,800 level or even $1,600 (Fibonacci 0.786 zone)
🧠 Conclusion:
> ETH is in a decisive zone between continuing upward recovery or correcting back. The $2,400 zone is an important battlefield between bulls and bears ❗