$ETH /USDT Perpetual Technical Analysis: Testing Major Macro Trend Line 🚨
The weekly chart shows $ETH undergoing a multi-week correction phase, moving down from its local swing high and sliding directly toward a primary multi-month macro trend support line.
📉 Technical Breakdown:
• Current Price: $2,015.67
• Immediate Resistance: Overhead supply sits firmly at the 0.5 Fib retracement level at $2,140.24, which must be reclaimed to shift momentum back to bulls.
• The Next Week Break Line: All structural eyes are locked onto the intersecting zone of the 0.236 Fib level at $1,972.43 and the ascending macro trend line. A decisive weekly close beneath this critical junction marks next week's breakdown line, which would risk exposing a deep continuation target toward the $1,820.61 horizontal floor (0 Fib).
💡 Trading Strategy:
Defensive Play: Monitor the $1,972 trend support closely for long-wick rejections or accumulation before opening long exposure.Breakout Setup: A clean break below the macro trend line next week confirms invalidation, opening short opportunities to $1,820.
#ETHUSDT #Ethereum #cryptotrading #TechnicalAnalysis #BinanceSquare
The weekly chart shows $ETH undergoing a multi-week correction phase, moving down from its local swing high and sliding directly toward a primary multi-month macro trend support line.
📉 Technical Breakdown:
• Current Price: $2,015.67
• Immediate Resistance: Overhead supply sits firmly at the 0.5 Fib retracement level at $2,140.24, which must be reclaimed to shift momentum back to bulls.
• The Next Week Break Line: All structural eyes are locked onto the intersecting zone of the 0.236 Fib level at $1,972.43 and the ascending macro trend line. A decisive weekly close beneath this critical junction marks next week's breakdown line, which would risk exposing a deep continuation target toward the $1,820.61 horizontal floor (0 Fib).
💡 Trading Strategy:
Defensive Play: Monitor the $1,972 trend support closely for long-wick rejections or accumulation before opening long exposure.Breakout Setup: A clean break below the macro trend line next week confirms invalidation, opening short opportunities to $1,820.
#ETHUSDT #Ethereum #cryptotrading #TechnicalAnalysis #BinanceSquare
