The 4-hour analysis signals a possible downward test of lower demand zones. But the 1-hour time frame shows consolidation between supply and demand levels. A hold of 1-hour support zones maintains the upside bias. Breakouts in either direction from here could imply a move towards subsequent demand/supply areas identified on the longer time frame. The fair value gaps spotlight potential reversal points across timeframes as well.
There has not been any drastic change in the weekly and daily timeframes, if you want know more about the weekly and daily analysis please read the last day ETH USDT analysis on 01/01/2024
4 Hour Timeframe
The price is currently at Demand Zone #1 between 2305.9-2260. A breakdown below this zone could see it move lower to test Demand Zone #2 between 2233.5-2178.2. Fibonacci retracement levels provide upside targets. FVG #1 between 2257.2-2233.5 signals potential support.
Fibonacci Retracement Levels
0.382
2345.2
0.50
2313.5
0.618
2313.5
0.786
2235.7
0.882
2209.8
Demand Zone
Zone Number
High
Low
Demand Zone #1
2305.9
2260.0
Demand Zone #2
2233.5
2178.2
Fair Value Gaps / Imbalances
Gap Number
High
Low
FVG #1
2257.2
2233.5
1 Hour Timeframe
The price is consolidating between Supply Zone #1 at 2387.6-2361.5 and Demand Zone #1 at 2352.9-2348.2. Multiple demand zones below provide support until 2287.4-2280.4. Bullish FVGs between key zones indicate potential reversal areas. Uptrend will require a solid break above Supply Zone #1. Fibonacci retracement levels give upside and downside extensions.