Overall, the 4-hour and 1-hour timeframes present a bullish technical case for ETH with supports at prior resistance zones and demand zones. Upside moves seem likely as long as the price remains above 2273-2249 support confluence.
Contents
For a more in-depth technical analysis across different timeframes, please click the link to view the identified levels of support and resistance, trends, and reversal patterns on the weekly, daily, charts.
4 Hour Timeframe
- The current price of ETH is 2424, which is present above the 50% Fibonacci retracement level of 2315.2.
- The price is also above the Resistance Zone 1 of 2340.7-2310.4. This zone is now acting as support.
- Below this zone, Support Zone 1 of 2176.3-2145 provides strong support.
- Bullish FVG 1 between 2341.6-2305.3 and Bearish FVG 2 between 2357.9-2308.1 signal potential reversal zones.
- Demand Zone 1 between 2305.3-2228.7 improves the bullish case if the price returns to retest it.
Fibonacci Retracement Levels
0.382 | 2335.6 |
0.50 | 2315.2 |
0.618 | 2294.8 |
0.786 | 2265.6 |
0.882 | 2248.7 |
Support/ Resistance Zone
S/R Type | High | Low |
Support Zone #1 | 2176.3 | 2145.0 |
Resistance Zone #1 | 2340.7 | 2310.4 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 2305.3 | 2228.7 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG #1 | 2341.6 | 2305.3 |
Bearish FVG #2 | 2357.9 | 2308.1 |
1 Hour Timeframe
- The current price is in an upward trend based on higher highs and higher lows over the past few candles.
- It is facing resistance at the 0.382 Fibonacci level of 2335.1
- Below this, Demand Zone 1 between 2273.4-2249.1 will act as stronger support.
- Bearish FVG 1 between 2318.3-2273.4 may lead to a minor short-term dip before the overall upward move resumes.
Fibonacci Retracement Levels
0.382 | 2335.1 |
0.50 | 2314.9 |
0.618 | 2294.6 |
0.786 | 2265.3 |
0.882 | 2248.8 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 2273.4 | 2249.1 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish FVG #1 | 2318.3 | 2273.4 |