Ethereum (ETH) is currently trading at approximately $2,488, experiencing a minor retracement from recent highs. Based on current technical analysis and price action, a significant buying opportunity is emerging in the range of $2,028 to $2,016.
Key TechnicOutlook
Current Price: $2,488
Immediate Support Zone: $2,028 – $2,016
Next Major Resistance Level: $2,922 – $3,200
Long-Term Target: Above $3,000
Stop Loss Consideration: Below $1,782
Why This Zone Matters
The $2,028–$2,016 range aligns with a previous demand zone, suggesting strong historical buying interest. This zone also coincides with:
A Daily Fair Value Gap (FVG)
A previous bullish order block
The 61.8% Fibonacci retracement of the recent bullish move
These confluences make it a highly probable area for bullish reversal if price reaches this zone.
Strategic Buy Plan
Entry Range: Between $2,028 and $2,016
Stop Loss: Below $1,782 (to protect against deeper retracement)
Take Profit 1 (TP1): $2,488 (current price zone)
Take Profit 2 (TP2): $2,922
Take Profit 3 (TP3): $3,200+
Conclusion
This is a high-probability trade setup for medium to long-term buyers looking to accumulate Ethereum at a discount. If price retraces into the $2,028–$2,016 range, it presents an ideal opportunity to enter the market with clearly defined risk and reward levels. Traders should monitor this zone closely and look for bullish confirmation signals before entering.
Risk Disclaimer: Always use proper risk management and consult with a financial advisor before making investment decisions.
