Ethereum - Daily FVG Filled – Breakout Incoming?

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Market Analysis:

Price has recently filled a daily Fair Value Gap (FVG) around $2,600 - $2,700, indicating that a key liquidity area has been mitigated. Following this, the market is currently consolidating within a descending wedge pattern, suggesting a potential breakout.

On the 4-hour timeframe, price is trading around $2,728 and is showing signs of bullish pressure, attempting to break out of the wedge to the upside. If a confirmed breakout occurs, we could see a push towards the next imbalance zone, which exists around $2,900 - $3,000. This gap above represents an area where price may seek liquidity before making its next move.

Once price taps into the $2,900 - $3,000 region, we could see bearish rejection, as this area may act as strong resistance. If selling pressure resumes from this level, price could potentially reverse back down towards $2,700 or lower, continuing the larger bearish trend.

Key Levels to Watch:

$2,600 - $2,700: Daily FVG (already filled)
$2,728: Current price
$2,900 - $3,000: Potential upside target if breakout occurs
$2,700: Possible bearish retest zone after filling the gap above

Overall, the market is at a critical decision point—whether it breaks out and fills the $2,900 - $3,000 imbalance before resuming the downtrend or fails to break out and continues bearish from the current structure.

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הערה

Made a typo at the "Current price"
Should have been $2682

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עסקה פעילה

Price is still consolidating in the gap, we had a small bullish fake out breaking the pattern but still looking bullish.