ETH has been in a strong uptrend, printing consistent higher highs (HH) and higher lows (HL). However, on the daily chart, the price has now reached a critical resistance zone near the $3,800–$4,000 range.Key Points:
🔸 Bearish RSI Divergence
While price action has formed a new higher high, the RSI has printed a lower high, signaling bearish divergence.
This indicates that upward momentum is weakening even as price attempts to push higher — a common early warning of a possible short-term reversal.
🔸 Fibonacci Retracement Levels
The fib 0.382 at $3240 and 0.5 and 0.618 retracement levels are sitting around $3,000 and $2,800, respectively, potential targets if a correction follows.
🔸 Volume Profile
Volume is gradually declining as price approaches resistance, suggesting buyer exhaustion.
If the price breaks above the $4,000 psychological resistance, we could see a strong bullish move.
ETH is facing strong resistance after a powerful rally, with RSI bearish divergence and weakening momentum hinting at a possible short-term pullback. We should be cautious entering fresh longs here without confirmation.
Support: $3,200, $3,000, and $2,800
Cheers
Hexa
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🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
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🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Related publications
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.