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CRYPTO_APE
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Ethereum: A Crucial Retracement After Reaching new all time high
ETHEREUM
The Ethereum chart paints a clear picture of a market in a state of consolidation after a significant rally. Following a strong surge that carried the price to a new "Ext Resistance" zone, we are now observing a potential retracement. This pullback is a healthy development, allowing the market to find a new equilibrium before any further attempt at upward momentum.
Currently, Ethereum is poised to test a critical "Breaker Block" and "Minor Fib Golden Zone." This area, spanning between the 61.8% ($3,883) and 78.6% ($3,652) Fibonacci retracement levels, is a high-probability zone for buyers to step in and defend the price. A successful defense of this zone would signal continued bullish momentum.
Just below this golden zone lies an "Order Block," which can act as a secondary layer of support. This area represents a concentration of institutional buying interest and could provide a robust floor if the first support level is breached.
A more substantial test for the bulls would be a retracement to the "Major Fib Golden Zone" and the lower "Breaker This confluence of technical Block." support levels, stretching from around $2,760 to $2,099, represents a strong demand area. A drop to this zone would likely be met with significant buying pressure, presenting a potential entry point for long-term investors.
Should the price fail to hold the major support zones and break down, the next target for the bears would be the "Ext Support" zone, near the $1,500 level. Such a move would invalidate the current bullish structure and suggest a broader market shift.
Disclaimer
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.
{spot}(ETHUSDT)
The Ethereum chart paints a clear picture of a market in a state of consolidation after a significant rally. Following a strong surge that carried the price to a new "Ext Resistance" zone, we are now observing a potential retracement. This pullback is a healthy development, allowing the market to find a new equilibrium before any further attempt at upward momentum.
Currently, Ethereum is poised to test a critical "Breaker Block" and "Minor Fib Golden Zone." This area, spanning between the 61.8% ($3,883) and 78.6% ($3,652) Fibonacci retracement levels, is a high-probability zone for buyers to step in and defend the price. A successful defense of this zone would signal continued bullish momentum.
Just below this golden zone lies an "Order Block," which can act as a secondary layer of support. This area represents a concentration of institutional buying interest and could provide a robust floor if the first support level is breached.
A more substantial test for the bulls would be a retracement to the "Major Fib Golden Zone" and the lower "Breaker This confluence of technical Block." support levels, stretching from around $2,760 to $2,099, represents a strong demand area. A drop to this zone would likely be met with significant buying pressure, presenting a potential entry point for long-term investors.
Should the price fail to hold the major support zones and break down, the next target for the bears would be the "Ext Support" zone, near the $1,500 level. Such a move would invalidate the current bullish structure and suggest a broader market shift.
Disclaimer
The information provided in this chart is for educational and informational purposes only and should not be considered as investment advice. Trading and investing involve substantial risk and are not suitable for every investor. You should carefully consider your financial situation and consult with a financial advisor before making any investment decisions. The creator of this chart does not guarantee any specific outcome or profit and is not responsible for any losses incurred as a result of using this information. Past performance is not indicative of future results. Use this information at your own risk. This chart has been created for my own improvement in Trading and Investment Analysis. Please do your own analysis before any investments.
{spot}(ETHUSDT)
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