Price is currently around $3190 and is consolidating inside a small descending triangle. Volume is decreasing, showing indecision.
A major support zone appears near the 0.618 Fibonacci level at ~$3063, where there is also a strong VRVP volume node, which could act as a liqudity grab zone.
Two possible paths are:
1. Bullish scenario: Price breaks out of the triangle upward and continues toward the $3350–$3400 resistance zone.
2. Bearish scenario: Price dips down to the $3060–$3080 region, finds support at the 0.618 fib, and then continues up toward the same target zone.
RSI is cooling off after being in the higher range.
A major support zone appears near the 0.618 Fibonacci level at ~$3063, where there is also a strong VRVP volume node, which could act as a liqudity grab zone.
Two possible paths are:
1. Bullish scenario: Price breaks out of the triangle upward and continues toward the $3350–$3400 resistance zone.
2. Bearish scenario: Price dips down to the $3060–$3080 region, finds support at the 0.618 fib, and then continues up toward the same target zone.
RSI is cooling off after being in the higher range.
Trade active
So far so good. Trade closed: target reached
Looks like ETH will have bigger correction than expected, since its already friday, I would sugget to close all trades, as we could retest 2800 levels during the weekend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.