As the chart illustrates, ETHUSDT has completed a significant correction and is now testing a crucial technical level: the 50% retracement level of the Fibonacci sequence. This level often acts as a dynamic support zone in a strong trend.
A confirmed bullish rejection at this 0.5 Fibonacci support, evidenced by a strong reversal candlestick pattern, would signal that the correction may be complete. This would establish a high-probability setup for a resumption of the primary bullish trend.
In such a scenario, we would anticipate a strong bullish impulse, with an initial technical target projected toward the $5,500 level. This target is derived from the magnitude of the prior uptrend and represents a key resistance zone on the higher timeframes.
DISCLAIMER: ((trade based on your own decision))
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A confirmed bullish rejection at this 0.5 Fibonacci support, evidenced by a strong reversal candlestick pattern, would signal that the correction may be complete. This would establish a high-probability setup for a resumption of the primary bullish trend.
In such a scenario, we would anticipate a strong bullish impulse, with an initial technical target projected toward the $5,500 level. This target is derived from the magnitude of the prior uptrend and represents a key resistance zone on the higher timeframes.
DISCLAIMER: ((trade based on your own decision))
<<press like👍 if you enjoy💚
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My telegram channel:
t.me/mmbtchannel
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned messages in my telegram channel for more info.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.