Ethereum price has fallen into a Fibonacci golden pocket around $2,950, a key support zone where buyers have been intervening so far, increasing the possibility of a rebound towards $3,880.
summary
- $2,950 matches Golden Pocket and high term support
- Multiple daily closes indicate buyers are holding the level.
- Holding support opens the way to $3,880 and range continuation.
Ethereum (ETH) is testing a key high timeframe support area after breaking into a Fibonacci golden pocket between $2,900 and $3,000. This area has historically served as a strong technical foundation for bullish reversals and is once again showing signs of demand.
Adding to the broader market story, several major Ethereum projects, including Aave, Uniswap, and Lido, have recently formed new policy coalitions, increasing focus on the Ethereum ecosystem as the price approaches this key zone.
Important technical points of Ethereum price
- Ethereum enters Fibonacci golden pocket matching high timeframe support at $2,950
- If the daily closing price is above support, it indicates that buyer demand is stable.
- Holding this area opens the possibility of a rotation towards $3,880 and the lower area of the previous range.
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ETHUSDT (1D) chart, source: TradingView
Ethereum’s recent decline into the Golden Pocket Fibonacci ratio marks a critical moment for the current market structure. The area between $2,900 and $3,000 combines several important technical elements: high timeframe support, the 0.618 Fibonacci retracement, and the lower bound of the previous trading range. This confluence significantly increases the likelihood of a bullish reaction and has historically led to strong price movements for Ethereum.
The $2,950 level is particularly noteworthy. Up until now, it had functioned as the axis of a big rally toward swing high in the final rotation. The fact that Ethereum is retesting the same zone makes the current price trend especially important.
Multiple daily closes above this level suggests that buyers are actively defending the zone and absorbing pressure on the seller side. This type of behavior is often seen when accumulation is occurring.
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If Ethereum continues to break above the $2,950 area, it will likely rotate towards the low area of its previous range, near $3,880. This target represents the next major resistance level and will likely keep Ethereum trading within a broader higher timeframe range structure.
The market has recently used this range to establish temporary swing lows and swing highs, and golden pockets are often the basis for these momentum changes.
Historically, golden pockets have served as important indicators of macro turning points. Both bullish and bearish trend reversals often begin at this level, and the current test is particularly relevant for Ethereum's medium-term outlook.
What to expect from future price trends
If Ethereum continues to sustain above $2,950, the chances of a rotation towards $3,880 increase significantly. Losing this support would weaken the bullish setup, but holding the golden pocket would result in a lower swing, paving the way for a potential move higher.
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