Ethereum Approaching Reversal Zone!

Ethereum is currently trading at a major support zone, an area where price has historically shown strong reactions and multiple bounces. This demand zone has acted as a key reversal region several times, and ETH is once again testing it.

Price is also sitting near the 0.618 Fibonacci retracement (Golden Zone), which is commonly used to identify potential reversal points during market corrections.

The Volume Profile shows a high-volume node exactly at the current support area, indicating strong interest and previous accumulation. This increases the probability that this zone will act as a strong support.

On the momentum side, the RSI has entered oversold territory once again. Historically, whenever ETH’s daily RSI dipped below 30, it marked strong bottom areas followed by significant bounces.

Key Highlights

- ETH retesting a major historical support zone.

- Trading inside the 0.618 Fibonacci Golden Zone.

- Daily RSI oversold (<30) — historically a strong bounce region.

- Volume Profile high-volume node aligns with support, increasing the strength of the zone.

- Potential for a short-term reversal if the support continues to hold.

Cheers
Hexa