1/ #ETH 1H Technical Breakdown
ETH is in a clear downtrend. Price broke below a major support zone around $1950–$2000, which now acts as resistance.
A descending trendline is also aligning with this zone — double confluence resistance.
2/ Volume confirms the move
Strong selling volume confirms bearish momentum.
But recent green volume spike shows buying interest at lower levels — price may pull back for a retest of resistance.
3/ Fibonacci Golden Pocket Zone
The grey box is not just a support/resistance zone — it’s also the Fibonacci 0.618–0.65 retracement area — a high-probability reversal zone.
A great spot for potential short setups.
4/ Possible Trade Setup (Short Idea)
Entry: $1950–$1980 (Golden Pocket + Resistance Retest)
Stop Loss: Above $2015
Take Profit 1: $1850
Take Profit 2: $1750
➡️ Risk-Reward: ~1:2 or better
Watch for bearish rejection candles (e.g., pin bar, bearish engulfing)
5/ Alternative Scenario:
If ETH reclaims and holds above $2000, short bias invalidates.
Then watch for a bullish retest of the breakout zone for a potential long setup toward $2100+.
Conclusion:
ETH is at a critical zone. Patience is key — let the setup confirm before entering.
#CryptoTrading #ETHAnalysis #Fibonacci #Trendline #TA
