ETH) to U.S. Dollar (USD) A potential bullish reversal is indica

12 Nis

ETH/USD (Ethereum vs. US Dollar)

4-hour chart, meaning each candle represents 4 hours of trading activity.


2. Key Chart Features

Support and Resistance Zones:

Resistance: A rectangular box near the $2,600 to $2,800 price zone. This area previously acted as a ceiling where price was rejected.

Support: A box near the $1,700–$1,750 region. Price has bounced off this area, suggesting a strong demand zone.


Fibonacci Circles:

These concentric circles are used to project potential support/resistance levels and timing based on Fibonacci ratios.

The price seems to be reacting near some of these circle lines, which are drawn from a major swing high to swing low.


Price Action:

There was a strong downward movement (highlighted in blue) followed by a consolidation.

A potential bullish reversal is indicated on the right, with a possible breakout to the upside shown by the green arrow and price projection box.


Risk/Reward Setup:

A long trade setup is illustrated:

Entry around $1,800

Stop loss near $1,417.5

Target around $2,100 or higher

This reflects a bullish outlook with an upward price trajectory.




3. Indicators and Tools Used

Fibonacci Retracement and Fibonacci Circles

Price Action Zones (Support/Resistance)

Projection arrows and rectangular zone for trade visualization

12 Nis

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