ETH 4H Setup – Double Tap Reversal + Fib Targets

Ethereum has printed a double bottom wick rejection just above the 2,468 level and is now attempting a breakout above the local range high. Price has reclaimed structure, indicating potential momentum toward key fib resistances.

Key Technical Zones:

Support Zone: 2,468 – local double bottom (0% fib)

Breakout Level: 2,544 (0.236 fib)

Targets:

TP1: 2,590

TP2: 2,628

TP3: 2,666 (0.618 fib / likely exhaustion zone)

Scenario Outlook:

🟩 Bullish Path:

Strong rejection from 2,468 confirms demand

Push through 2,544 unlocks path to mid 2,600s

Trend continues if macro holds above 2,500

🟥 Bearish Reversal:

Rejection near 2,590–2,666

Bearish engulfing back below 2,507 invalidates this long setup

Could revisit 2,468 and break to 2,440s

Play Idea:

Entry: Reclaim 2,544 with confirmation

SL: Below 2,496

TP1: 2,590

TP2: 2,628

TP3: 2,666

📌 “ETH bulls defend the low — the battle now shifts to mid-range fib control.”