ETH Weekly Setup: Confluent Support Zone - $3440–Bounce Incoming
📈 ETH/USDT – Weekly Timeframe Bullish Confluence
Multiple technical factors aligning for a potential bounce in Ethereum:
✅ Triangle Breakout + Retest – Price retesting the upper trendline of a multi-month
symmetrical triangle after a clean breakout. Classic continuation setup.
✅ Fibonacci .618 Support – The golden ratio level (~$3400–$3500 zone) has historically acted as strong dynamic support. Bounces from .618 are high-probability in trending markets.
✅ RSI at 50 Support & Retest – Weekly RSI holding the midline (50) as support. This level often marks the transition from correction to resumption of uptrend.
✅ Higher High Structure Intact – Weekly timeframe still printing higher highs. As long as $3240 holds on close, macro uptrend remains valid.
✅ Triple Bottom Formation – Price has tested ~$3440 three times in recent weeks. Triple bottoms at key levels often precede strong reversals.
🎯 Expected Move: Bounce toward prior swing high (~$4000–$4200) if support holds.
⚠️ Invalidation: Weekly close below $3240 – would break triple bottom neckline and shift bias to bearish.
Not financial advice. Trade at your own risk.
#ETH #Ethereum #Crypto #TechnicalAnalysis #TradingView
Multiple technical factors aligning for a potential bounce in Ethereum:
✅ Triangle Breakout + Retest – Price retesting the upper trendline of a multi-month
symmetrical triangle after a clean breakout. Classic continuation setup.
✅ Fibonacci .618 Support – The golden ratio level (~$3400–$3500 zone) has historically acted as strong dynamic support. Bounces from .618 are high-probability in trending markets.
✅ RSI at 50 Support & Retest – Weekly RSI holding the midline (50) as support. This level often marks the transition from correction to resumption of uptrend.
✅ Higher High Structure Intact – Weekly timeframe still printing higher highs. As long as $3240 holds on close, macro uptrend remains valid.
✅ Triple Bottom Formation – Price has tested ~$3440 three times in recent weeks. Triple bottoms at key levels often precede strong reversals.
🎯 Expected Move: Bounce toward prior swing high (~$4000–$4200) if support holds.
⚠️ Invalidation: Weekly close below $3240 – would break triple bottom neckline and shift bias to bearish.
Not financial advice. Trade at your own risk.
#ETH #Ethereum #Crypto #TechnicalAnalysis #TradingView
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.