The daily and lower timeframes are showing signs of downward movement in the short term. Demand zones should provide support if revisited on pullbacks.
Weekly Timeframe
On the weekly timeframe, ETH USDT is currently trading between the support zone 1 of 2031.06-1936.4 and resistance zone 1 of 2531.9-2403.1. The price is nearing the 0.618 Fibonacci retracement level of 1874.4 suggesting potential downward movement in the near future. There is a clear supply zone between 2529-2485 that may act as resistance. The demand zone between 1639.5-1520.5 could potentially be revisited.
Support and Resistance Levels
S/R Type | High | Low |
Support Zone #1 | 2031.06 | 1936.4 |
Suport Zone #2 | 1558.9 | 1487.2 |
Resistance Zone#1 | 2531.9 | 2403.1 |
Fibonacci Retracement Levels
0.382 | 2096.0 |
0.50 | 1983.5 |
0.618 | 1874.4 |
0.786 | 1717.5 |
0.882 | 1628.8 |
Supply Zone
Zone Number | High | Low |
Suppy Zone #1 | 2529.0 | 2485.0 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 1639.5 | 1520.5 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
FVG #1 | 1778.7 | 1639.5 |
FVG #2 | 2716.8 | 2529.0 |
Daily Timeframe
Zooming into the daily chart, we can see support at 2133-1982.6 and resistance at 2497.4-2399.7. The price is currently positioned between the 0.618 and 0.786 Fibonacci retracement levels indicating a movement towards support is likely. There are demand zones between 2110.7-2065.1 and 2075.7-2020.6 that could be retested.
Support and Resistance Levels
S/R Type | High | Low |
Support Zone #1 | 2133.0 | 1982.6 |
Resistance Zone #1 | 2497.4 | 2399.7 |
Fibonacci Retracement Levels
0.382 | 2273.0 |
0.50 | 2218.0 |
0.618 | 2163.1 |
0.786 | 2085.2 |
0.882 | 2041.7 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 2110.7 | 2065.1 |
Demand Zone #2 | 2075.7 | 2020.6 |
4 Hour Timeframe
On the 4 hour chart, the price is nearing the 0.618 Fibonacci retracement level of 2313.5 suggesting a downtrend in the short term. Demand zones between 2305.9-2260 and 2233.5-2178.2 could provide support. Fair value gaps between 2325.5-2317.8 and 2257.2-2233.5 may act as price magnets.
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 |
Bullish FVG #1 | 2325.5 | 2317.8 |
Bullish FVG #2 | 2257.2 | 2233.5 |
1 Hour Timeframe
Zooming into the 1 hour chart, we can see the price testing the supply zone between 2433.3-2415.1. If resistance holds, a retest of the demand zone between 2340-2325.5 is likely. The bearish fair value gap between 2415.1-2406.2 and bullish gap between 2342.4-2340 may influence near term price action.
Fibonacci Retracement Levels
0.382 | 2377.0 |
0.50 | 2388.0 |
0.618 | 2398.7 |
0.786 | 2413.7 |
0.882 | 2422.5 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 2433.3 | 2415.1 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 2340.0 | 2325.5 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 2415.1 | 2406.2 |
Bullish FVG #1 | 2342.4 | 2340.0 |