Technical analysis by The_Alchemist_Trader_ about Symbol ETH on 7/16/2025

Ethereum (ETH) is facing a pivotal moment as it trades directly into the Golden Pocket — a Fibonacci zone widely recognized for its strong influence on price behavior. As ETH reaches this resistance, traders are watching closely to determine whether a rejection will lead to a bullish retest at lower levels, or if a breakout will confirm continuation toward much higher targets. The next few days will be key in defining the near-term trend. - Golden Pocket Resistance: Ethereum is trading at the 0.618–0.65 Fibonacci retracement zone, a historically reactive level. - Bullish Retest Zone at $2,800: A rejection could lead to a healthy high-low formation at this support. - Upside Target at $3,600: A breakout above the Golden Pocket would likely accelerate the move toward this high-time frame resistance. Ethereum’s current price action has entered a region of significant resistance: the Golden Pocket, which lies between the 0.618 and 0.65 Fibonacci retracement levels. This zone often acts as a strong inflection point, either halting price momentum temporarily or confirming a breakout with strong follow-through. Should Ethereum face rejection from this zone, price could rotate back down to the $2,800 region, which now aligns with a key support structure and potential bullish retest zone. This would allow for a higher low formation, reinforcing the uptrend and setting the stage for a long opportunity targeting previous highs. So far, no rejection has occurred, but if it does, it will likely be seen as a buy-the-dip opportunity for traders aiming to re-enter the trend. This would also mark a textbook retracement within a bullish market structure. Alternatively, if Ethereum breaks above the Golden Pocket without rejection and consolidates above it, this would be a strong bullish confirmation. In that scenario, the next likely destination is the $3,600 high-time frame resistance, a key level that has previously acted as a major barrier. Volume and candle structure over the next few sessions will offer key signals — a strong impulse with follow-through would favor the breakout scenario, while weak closes and rejection wicks would support the retracement idea. Ethereum is at a make-or-break level. A rejection from the Golden Pocket could lead to a healthy correction toward $2,800, offering a long setup. However, if ETH breaks through this resistance with strength, a rally toward $3,600 becomes the high-probability scenario. The next move will likely define Ethereum’s short-term trend.Ethereum has reached high time frame resistance without providing a pullback. As a result, the trade setup has been invalidated. While the directional bias was correct, there was no clear entry trigger to justify taking the trade.