ETH — The $3,000 Rebound Zone: Multi-Confluence Support

l’altro ieri

ETH has reached a key level around $3,000, a major psychological zone that also aligns with multiple high-timeframe supports. The yearly VWAP sits at $3,023.5, providing the first layer of confluence. Additionally, both the 21-month EMA ($3,028) and the 21-month SMA ($3,100) cluster tightly in this region, reinforcing it as a strong structural support zone.

This creates a long setup with a clear invalidation below the $3,000 level. The primary target is the 0.5 Fibonacci retracement at $3,331, which lines up closely with the yearly open at $3,337.78. This area also contains a fair value gap and the anchored VWAP, forming a solid resistance cluster and a logical take-profit zone.

Support and resistance levels are well-defined, and the trade structure is clean.

• R:R ~1:5 if entering directly at the yearly VWAP support
  
• R:R ~1:2 if entering at current price levels
  

Overall, ETH is positioned at a high-probability long zone with strong multi-confluence support and a clear upside target.

🔍 Indicators used

• DriftLine — Pivot Open Zones [SiDec] → For identifying key yearly/monthly/weekly/daily opens that act as major S/R reference points
  
• Multi Timeframe 8x MA Support Resistance Zones [SiDec] → to identify support and resistance zones such as the monthly 21 EMA/SMA.
  
• VWAP
  

➡️ Available for free. You can find it on my profile under “Scripts” and apply it directly to your charts for extra confluence when planning your trades.

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ieri

Nota

ETH Update:

ETH followed BTC and tapped the 0.702 Fib “sweet spot”, with the $3000 key support holding. I’m looking for a reversal back toward the yearly open.