On the daily timeframe the mid-term trend remains bullish as long as ETH USDT stays above support at $2179.21. The 4HR and 1HR timeframes indicate the price may rise from the demand zone and fill the fair value gap in the near term before potentially resuming the wider uptrend. A break above $2432.79 daily resistance would strengthen the bullish case.
On the daily timeframe, ETH USDT is currently trading between the support zone of $2179.21-$2209 and resistance zone of $2403-$2432.79. The price is testing the 0.382 Fibonacci retracement level of $2378.33 as support. A drop below this level could see the price fall further to test the 0.50 level at $2441.80 as support. Alternatively, a break above the resistance zone could see the price rise to test the 0.618 level at $2507.03 and potentially the 0.786 level at $2600.47. Above this, the 0.882 level at $2653.35 may act as further resistance. In the mid-term, bulls will be looking for a break above $2432.79 to resume the long-term uptrend.
Support and Resistance Levels
S / R Type
High
Low
Support Zone
2179.21
2209.00
Resistance Zone
2403.00
2432.79
Fibonacci Retracement Levels
0.382
2378.33
0.50
2441.80
0.618
2507.03
0.786
2600.47
0.882
2653.35
Supply Zone
Zone Number
High
Low
Supply Zone
2415.20
2504.20
4 Hour Timeframe
Zooming into the 4HR chart, we can see ETH USDT is currently trading between support at $2250.06-$2269.45 and resistance at $2391.98-$2411.37. The price is currently trying to rise above the resistance zone to continue the up move. The 0.382, 0.50 and 0.618 Fibonacci retracement levels at $2350.90, $2338.03 and $2325.15 respectively may provide resistance if tested. However, a break above $2411.37 could see the price rise to the 0.786 level at $2307.03 or the 0.882 level at $2296.31. On the downside, support is initially expected at the current support zone, below which the demand zone between $2305.99-$2283.63 may kick in.
Support and Resistance Levels
S / R Type
High
Low
Support Zone
2250.06
2269.45
Resistance Zone
2391.98
2411.37
Fibonacci Retracement Levels
0.382
2350.90
0.50
2338.03
0.618
2325.15
0.786
2307.03
0.882
2296.31
Demand Zone
Zone Number
High
Low
Demand Zone
2305.99
2283.63
1 Hour Timeframe
Zooming into the 1hr chart, we can see the price recently found support at the demand zone between $2296-$2283.63 after falling from resistance at $2411.37 on the 4hr chart. The 0.382, 0.50 and 0.618 Fibonacci retracement levels stand at $2350.90, $2338.12 and $2325.35 respectively and may act as resistance if tested. Importantly, there is a bullish fair value gap between $2296-$2306.34 which the price may attempt to fill. If bulls can drive the price above the Fibonacci resistance levels, the next targets will be at $2306.82 (0.786) and $2296.28 (0.882). Alternatively, a break below $2283.63 could see the decline extend further in the near term.