ETHFI has recently shown a strong recovery from its macro lows, now trading at $1.29. The price is currently reacting to the first weekly bearish order block zone around $1.20–$1.35, which historically served as a key support-turned-resistance area.
🔹 Key Observations:
Price Reaction Zone:
Price is consolidating inside the first weekly order block, indicating potential for rejection or absorption before a larger move.
Upside Potential:
If bulls break above and hold this zone, the next key weekly order blocks lie at:
$2.30–$2.70
$4.80–$5.40
Bullish Structure:
The strong impulsive move from sub-$0.50 to above $1.20 hints at aggressive accumulation. Continuation depends on reclaiming and holding above this current order block.
🧠 Summary:
ETHFI is at a critical inflection point, testing a major weekly supply/order block. A clean breakout could open room to higher order blocks, while rejection may lead to a retest of lower demand areas. Monitor for confirmation (e.g., daily candle close above $1.35 or strong rejection wicks) before positioning.
🔹 Key Observations:
Price Reaction Zone:
Price is consolidating inside the first weekly order block, indicating potential for rejection or absorption before a larger move.
Upside Potential:
If bulls break above and hold this zone, the next key weekly order blocks lie at:
$2.30–$2.70
$4.80–$5.40
Bullish Structure:
The strong impulsive move from sub-$0.50 to above $1.20 hints at aggressive accumulation. Continuation depends on reclaiming and holding above this current order block.
🧠 Summary:
ETHFI is at a critical inflection point, testing a major weekly supply/order block. A clean breakout could open room to higher order blocks, while rejection may lead to a retest of lower demand areas. Monitor for confirmation (e.g., daily candle close above $1.35 or strong rejection wicks) before positioning.
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.