ETH - 2 hour chart - Trend based Fibonacci Retracement

Price took strong support from the green demand zone and bounced, starting a fresh upward move. This rally reached the Fibonacci 0.618–0.786 zone, where price faced resistance and started a pullback. During this pullback, a falling trendline formed, showing short-term selling pressure. Now price is moving between the 0.236 and 0.382 Fibonacci levels and is again testing the trendline from below. If price gives a clean breakout above this falling trendline and holds, it can continue its upward move toward higher Fibonacci levels. If the breakout fails, price may retest lower Fibonacci areas or even move back toward the support zone.

Entry: Buy on trendline breakout and retest around 3530–3550
Stop Loss: Below recent swing and Fibonacci 0.236 zone around 3450–3470
Targets:
• First target near 0.382 zone around 3600
• Second target near 0.5 zone around 3680
• Final target near 0.618–0.786 zone around 3750–3850

Disclaimer: This analysis is for educational purposes only and not financial advice. Always do your own research before trading or investing.