ETH Rejected at POC – Bears Eye $3000 again

Over the past two days, Ethereum struggled to maintain momentum above the Point of Control (POC) of the current range. Price action formed wicks above the POC but closed below, signaling clear rejection at this level.

Key Support Zone
The $3000 area holds significant support, bolstered by several confluences:

Fibonacci Levels: The 0.786 fib retracement ($3045) aligns with the old 0.618 fib retracement ($3025)
4H Bullish Block: A strong demand zone on the 4-hour timeframe supports this level
Trend-Based Fibonacci Extension: 1:1 extension lines up perfectly with the 0.618 fib retracement
Psychological Level: The round number at $3000 adds psychological strength to this support

Short Setup:

Entry: POC of the range
Stop Loss: Above the recent high
Take Profit: $3000 zone
Risk-Reward: 3:1, offering a solid trade opportunity

Long Setup (Confirmation Needed):

Entry: Between $3025–$3000, upon bullish confirmation
Stop Loss: Below $2900
Take Profit: open

Trade chiuso: obiettivo raggiunto

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SiDec

🏆 Mastering Fibonacci for precision trading

🔹 Sharing high-probability trade setups

⚡ Unlock the power of technical analysis!