ETH Marketcap / Ethereum
ETH daily analysis 23/03/2026. Ethereum is still classified as bearish on the higher-level read, but our ETH daily analysis shows a potential inflection point as price responds to a deep Fibonacci retracement and reclaims a key neckline area, shifting focus to whether buyers can hold the recovered structure.
- The ETH price shows us that price retraced into the fib level 0.786, but reclaimed the neckline afterwards.
- This shows us that bulls are showing power again. If the bulls manage to defend this level, this could initiate a further bullish push up.
Market Structure Analysis
From a naked trading perspective, the 0.786 Fibonacci retracement is a deep corrective pullback that often acts as a “last line” area for a structure to remain valid. ETH pushing into that zone and then reclaiming the neckline is structurally important because it suggests the correction failed to fully break the prior bullish framework around that neckline.
In bearish conditions, these reclaim moves are frequently tested again, so the immediate question is whether this is a clean reclaim that holds (support) or a temporary recapture before continuation lower. The neckline now becomes the primary horizontal support/resistance pivot: acceptance above it favours a transition into a new impulsive attempt upward, while rejection back below would align ETH again with the broader bearish bias.
Key Levels and Scenarios
For bullish continuation, ETH needs to defend the reclaimed neckline and hold above the 0.786 Fibonacci area on any retest, confirming support resistance has flipped in buyers’ favour. If that holds, the market structure supports a further push up from this reversal zone.
For bearish continuation, losing the neckline again would signal the reclaim failed, putting focus back on continuation of the corrective/downtrend leg.
- 0.786 Fibonacci retracement level as the key corrective support area
- The neckline as the main pivot for support resistance (reclaim vs failure)
- Neckline retest behaviour as confirmation for continuation or reversal
This analysis is for informational purposes only and does not constitute financial advice.