🔴 ETH/USD 4H | Binance | DigneFX
Price tapped the 0% Fibonacci level at $2,465 and got rejected hard. We ran up inside a rising channel, formed a cup & handle pattern near the top — but bulls couldn't hold it.
Now price is breaking down below the 23.6% Fib ($2,360) and current price sits at $2,282, with the hand-drawn arrow pointing toward a potential drop to the 90% Fib zone around $2,065 👇
Key levels to watch:
🔴 Resistance: $2,360 – $2,465
🟡 50% Fib: $2,243
🟡 61.8% Fib: $2,191
🎯 Target: $2,065 – $2,021
Bears are in control until we reclaim $2,360. A bounce from $2,191–$2,065 would be the area to watch for a potential reversal.
Not financial advice. DYOR 🧠
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