ETH/USDT – Waiting for Retracement After Strong Impulse Move

Ethereum has shown a strong impulsive rally from the $1,750 zone, breaking through key resistance levels. Now, price is approaching a major supply zone and resistance between $2,450–$2,600, suggesting a potential pullback.

🔹 Technical Highlights:

The current move is a clean vertical impulse leg with little consolidation — a retracement is likely before continuation.

Key Fibonacci retracement levels are drawn from the recent swing low to high:

0.382 Fib: $2,218

0.5 Fib: $2,125 (Buy Zone)

0.618 Fib: $2,067

A support block and potential bullish reaction zone is aligned with the 0.5 Fib level, marked as a “Buy Here” zone.

RSI is deeply overbought (~86), increasing the likelihood of a temporary correction.

🟢 Trade Plan Summary:

Scenario : Price rejects from $2,450–$2,600 resistance, pulls back to the 0.5–0.618 Fib zone, and then resumes bullish momentum.

Buy Zone: Around $2,125, with confluence from Fib, structure, and trendline support.

Buy Zone: Around $2,125, with confluence from Fib 0.5, structure, and support.

Target: New highs above $2,600, possibly heading toward $3,000+ in the medium term.

📌 Outlook: Bullish on confirmation of pullback support — waiting for healthy retracement for re-entry.