ETH Technical Outlook: Range Expansion Attempt Within a Broader Corrective Structure
ETH remains in a broader corrective phase following the strong rejection from the $4,450–$4,950 macro resistance zone, aligned with the 0.786–1.0 Fibonacci retracement. That rejection confirmed a macro distribution high, leading to a sharp bearish impulse and subsequent consolidation.
Recent price action shows ETH stabilizing above a key demand base near $3,050–$3,150, with price attempting a controlled recovery toward overhead resistance. While momentum has improved, the higher-timeframe trend has not yet ful