Is the negative side forward or just fake?

ETHEREUM was recently rejected from the main meeting area, including 0.618 Fibonacci level. With the return of the price under the point of control, traders closely monitor the signs of deeper movement or trap.

Ethereum (EthThe price movement stopped in a technically significant area, which is the level of Fibonacci Fibonacci 0.618, drawing from the latest axis to a decrease. This region is also strengthened by the daily horizontal and disputed VWAP resistance, which increases its weight as a decision area. After many failed attempts to pay up up, ETH is now rolling, and again circulating under the control point (POC) of the local domain.

Main technical points

• Main Resistance Group: Fibonacci 0.618 is compatible with daily resistance and descending VWAP, which is a strong technical ceiling.
• POC loss: The price has decreased below the control point in size, indicating that the sellers control the auction in the short term.
• Detamentary Temple Building: Low altitudes and the outstanding exit increases the possibility of moving towards the next main support near $ 1,540.

Detailed analysis

After a higher impulsion, the ETHEREUM price spent several sessions that reinforce less than a heavy resistance area. The level of 0.618 Fibonacci is strengthened, which is a widespread control sign, through daily horizontal resistance and VWAP decline from the highest large level. It attracted this noticeable sale pressure, and ETH has now failed several times to collapse.

What adds more caution to the current structure is the last loss of the control point in this area. The price has now decreased below the higher knot in the last range, indicating that the market no longer accepts the value at these levels. This range often precedes rotation or continuing in the direction of rejection, in this case, to the negative side.

The artistic scene also reveals a clear, short -term structure. ETH has not been able to print higher levels or maintain the lowest levels, which increases the possibility of wider correction. The following logical support level sits about $ 1,540, not only the structural level of previous sessions but also an area with an inefficiency of visual price (for example, fairly full -time value gaps and individual publications) that can act as a price magnet.

This setting opens the door for the transfer of the negative side of 10 % possible from the current levels, especially if the last low oscillation fails to keep it. However, traders should remain alert for the possibility of a fake, as Ethereum previously showed a surprise force of similar rejection areas.

What can be expected in the next basic procedure

ETHEREUM failure to separate from the meeting area of ​​0.618 and its rejection of POC indicates a higher opportunity to rotate towards low support. If the price drops below the last fluctuation, 1540 dollars may be the next goal.

However, if buyers can defend the current levels and restore POC, this may be a local fake before resuming up. Currently, there is a justification for caution as the price hovers near a decisive level.