ETH/USD quotes are forming a medium-term downward trend while correcting toward the long-term trajectory. Over the past month and a half, price action has largely stabilized within a broad sideways range of 3165.00–2770.00 (Fibonacci retracement 50.0%–61.8%) and is now approaching its upper boundary. A breakout above 3165.00 (Fibonacci 50.0%, Murray level [2/8]), reinforced by the upper Bollinger Band, would open the way for a test of 3560.00 (Fibonacci 38.2%) and 4062.50 (Murray level [5/8], Fibonacci 23.6%). For bears, the key level remains 2770.00 (Fibonacci 61.8%, Murray level [1/8]); a break below this mark would likely act as a catalyst for a stronger decline toward 2187.50 (Murray level [–1/8]) and 1875.00 (Murray level [–2/8]).
Technical indicators do not provide a unified signal: Bollinger Bands are turning lower, the MACD histogram remains stable in negative territory, while the Stochastic oscillator has shifted into sideways movement near the oversold zone.
Support and resistance levels
Resistance levels: 3165.00, 3560.00, 4062.50.
Support levels: 2770.00, 2187.50, 1875.00.
Trading scenarios and ETH/USD price forecast
Short positions may be opened below 2770.00 with targets at 2187.50 and 1875.00, and a stop-loss at 3010.00. Time horizon: 5–7 days.
Long positions may be opened above 3165.00 with targets at 3560.00 and 4062.50, and a stop-loss at 2900.00.
Scenario
| Timeframe |
Weekly |
| Recommendation |
SELL STOP |
| Entry point |
2765.00 |
| Take Profit |
2187.50, 1875.00 |
| Stop Loss |
3010.00 |
| Key levels |
1875.00, 2187.50, 2770.00, 3165.00, 3560.00, 4062.50 |
Alternative scenario
| Recommendation |
BUY STOP |
| Entry point |
3175.00 |
| Take Profit |
3560.00, 4062.50 |
| Stop Loss |
2900.00 |
| Key levels |
1875.00, 2187.50, 2770.00, 3165.00, 3560.00, 4062.50 |
cryptocurrency journalist and market analyst who has accumulated great experience. He shares practicable insight with traders, investors, and enthusiasts of the crypto world. John loves to explore the dynamic Web3 space, which involves blockchain technology or different coins besides decentralized applications (dApps) leading decentralized finance (DeFi), smart contracts or interoperability among blockchains, non-fungible tokens (NFTs), real-world assets (RWAs), and artificial intelligence combining blockchain. John has worked for leading cryptocurrency resources, among them FORECK.INFO, CoinGape, CryptoNews, and Business2Community
