Ethereum: Retests Same Fib Zone on 3-Day Chart
Trader Tardigrade notes Ethereum is retesting the Fib 0.236 to 0.382 range at $2,497 to $2,308 on the 3-day chart, mirroring the prior zone that held and propelled price higher.
SourceAnalysis
Ethereum is forming the same structure on the 3-day chart as last time, with price back in the Fib 0.236 to 0.382 zone between $2,497 and $2,308 after a bottom and bounce.
The prior retest of $2,530 to $2,311 held support and drove price higher.
Price at $2,428.24 sits inside the Bollinger Bands on the 4h chart, with the upper band at $2,470.63 capping upside while the EMA50 at $2,454.46 and EMA200 at $2,526.86 define resistance overhead; the neutral RSI at 50.28 paired with the MACD golden cross at -10.33 suggests a potential consolidation before any continuation higher.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.