ETH/USDT – Key Fibonacci Retracement Bounce & Bullish Reversal

📊 ETH/USDT – Key Fibonacci Retracement Bounce & Bullish Reversal Potential

Asset: Ethereum (ETH)
Pair: ETH/USDT
Exchange: Binance
Timeframe: 1D (Daily)

🔍 Technical Breakdown:

Fibonacci Confluence Zone
Price has retraced exactly into the 0.618 Fibonacci level (2,193 USDT) from the previous swing low to swing high.
This level often acts as a strong demand zone, indicating potential for a reversal or strong reaction.
Support & Volume Cluster
The red zone marked between 2,148–2,266 USDT is a historical support range with visible buying volume support (Vol: 279.54M), suggesting buyer interest.

Bullish Recovery Projection
The bullish projection targets a 44.40% upside move toward 3,272 USDT, aligning with the Fibonacci extension and previous resistance near 2,911.76 – 3,200.

Stochastic Oversold
The Stochastic oscillator is currently in the oversold territory, signaling that downward momentum is weakening and price may be preparing for a bullish crossover.

🎯 Trade Plan:
Entry Zone: Between 2,148 – 2,266 USDT
Stop Loss: Below 2,148 USDT (invalidate the structure)
Primary Target: 2,505 – 2,911 USDT
Extended Target: 3,272 USDT
Risk-to-Reward (RR): ~8.53

🧠 Professional Commentary:
"This setup shows a textbook bullish retracement to the golden zone (61.8%) of a mid-term uptrend. If price holds this key area and forms a reversal structure, it could mark the beginning of a major recovery leg. Risk is tightly defined, and reward potential is highly attractive. Patience and precision will be key." 💼📈