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ETHUSD prepares for bullish continuation after major retracement. ETHUSD faced resistance at the $4,960 region, prompting a corrective decline. The retracement respected key Fibonacci levels, particularly the 0.5 retracement at $4,150 and the 0.618 retracement at $3,960, where price found strong bids. A significant order block also exists around $3,520, reinforcing this zone as a key defensive barrier. The recent candlestick activity suggests accumulation around these support areas, with the short-term moving average at $4,560 acting as an interim pivot. This consolidative action indicates that buyers are steadily regaining control after profit-taking pressures.
Looking forward, ETHUSD is well-positioned to resume its bullish trajectory once consolidation completes. A decisive move above the $4,870 resistance level could spark an impulsive rally, targeting $5,200 in the near term. If momentum continues to build, the next bullish objectives extend to $5,500 and eventually $6,000, which stands as a major psychological milestone. Conversely, maintaining price action above $4,100 is essential to preserve the bullish bias and prevent deeper corrections. Overall, the retracement has created a healthier structure, offering the potential for renewed bullish momentum and positioning ETHUSD for another leg higher in its broader uptrend.
ETH Key Levels
Supply Levels: $4870, $5500, $6000
Demand Levels: $4110,$3530, $2860
What are the indicators saying?
ETHUSD has displayed a dominant bullish structure over the past several weeks, supported by its alignment with both momentum indicators and moving averages. The market’s rally from the $2,360 region to the recent high near $4,960 underscores the strength of institutional demand. While the retracement phase temporarily softened momentum, the pair remains above its long-term supports, indicating that the underlying trend is still constructive. The MACD, though cooling, has not crossed into full bearish territory, highlighting that the pullback is corrective in nature rather than a reversal.
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