ETH could experience further rangebound trading in the near term before likely retesting lower levels of support. A break above $2433 on daily would call for a reassessment of the outlook.
Weekly Timeframe
On the weekly timeframe, ETH is currently trading inside a support zone between $1936-$2031. The price action is also near the 0.618 Fibonacci retracement level of $1874. There are two overhead resistance zones between $2403-$2532 and $3922-$4014. On the downside, two supply zones have been formed at $2485-$2529 and $3210-$3582 which could pose resistance in an upside move.
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 |
Resistance Zone #2 | 4013.7 | 3922.2 |
Fibonacci Retracement Levels
0.382 | 2093.0 |
0.50 | 1983.5 |
0.618 | 1874.2 |
0.786 | 1718.7 |
0.882 | 1628.9 |
Supply Zone
Zone Number | High | Low |
Supply Zone #2 | 2529.0 | 2485.0 |
Suppy Zone #2 | 3582.2 | 3210.9 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
FVG #1 | 1778.7 | 1639.5 |
FVG #2 | 2716.8 | 2529.0 |
Daily Timeframe
On the daily chart, ETH is finding support around $1982-$2133. The closest resistance sits at $2399-$2497. Within this range, there is a demand zone from $2020-$2076 that the price may retrace to. Above lies a supply zone from $2433-$2433.
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 | 2242.2 |
0.50 | 2177.8 |
0.618 | 2113.3 |
0.786 | 2022.2 |
0.882 | 1971.0 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 2433.3 | 2433.3 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 2075.7 | 2020.6 |
4 Hour Timeframe
Shifting to the 4-hour chart, we can see the price is trapped between support at $2145-$2176 and resistance at $2310-$2341. Fibonacci retracement levels show potential pullback areas between $2210-$2394. There also exist two bearish fair value gaps from $2247-$2297 and $2308-$2358.
Fibonacci Retracement Levels
0.382 | 2225.8 |
0.50 | 2267.1 |
0.618 | 2305.8 |
0.786 | 2362.2 |
0.882 | 2394.2 |
Support/ Resistance Zone
S/R Type | High | Low |
Support Zone #1 | 2176.3 | 2145.0 |
Resistance Zone #1 | 2340.7 | 2310.4 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 2176.3 | 2145.0 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 2297.0 | 2246.9 |
Bearish FVG #2 | 2357.9 | 2308.1 |
1 Hour Timeframe
Finally, on the 1-hour chart, support and resistance lies between $2251-$2297 and $2308-$2364 respectively. Fibonacci levels point to $2210-$2353 as pullback zones. Looming overhead is a supply zone from $2364-$2386 which may stall any upmove. Two bearish fair value gaps appear from $2251-$2297 and $2307-$2364.
Fibonacci Retracement Levels
0.382 | 2210.3 |
0.50 | 2243.6 |
0.618 | 2277.3 |
0.786 | 2325.3 |
0.882 | 2352.7 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 2386.3 | 2363.6 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 2297.0 | 2251.2 |
Bearish FVG #2 | 2363.6 | 2307.7 |