Horizontal lines indicating where support and resistance are likely to occur, based on the Fibonacci sequence. Key levels include 23.6%, 38.2%, 50%, 61.8%, and 78.6%.
Example
“After ETH rallied from $2,000 to $4,000, the trader plotted Fibonacci Retracement levels and placed a buy order at the 50% retracement ($3,000), expecting it to act as strong support during the pullback.”