Here is a technical analysis of ETH/USDT on the daily timeframe:
Market Structure
ETH/USDT daily market structure remains bullish but is currently consolidating after the strong breakout from the $1,990-$2,000 zone toward $2,800. Price is forming lower highs below $2,700 to $2,730 while holding above key support around $2,610. A breakout above $2,730 could open the way toward $2,800+, whereas a daily close below $2,610 would weaken the structure and expose $2,550 to $2,580 as the next support zone.
Technical Analysis
On the daily chart, ETH is moving within a short-term descending channel/contracting structure after rejecting the $2,800 high. Price is making lower highs along the descending upper trendline, while the lower side is being supported around the 2,580 area. Repeated rejection at the upper trendline indicates resistance. A daily breakout and close above the trendline around $2,700 would invalidate the immediate bearish channel structure and open the way toward $2,800. Conversely, rejection from the trendline followed by a break below the lower support would extend the correction toward $2,550 and potentially $2,430. The broader rising trendline/moving-average structure remains intact as long as the major support zones hold.
At the time of writing, ETH was trading at approximately $2,656.
Also Read: The State of Crypto in India: H1 2026 Review & H2 2026 Outlook
Summary
ETH is consolidating within a short-term descending channel after rejecting near $2,800. Price is repeatedly facing resistance at the descending trendline, while 2,580 acts as the key support zone. A breakout above the upper trendline would signal bullish continuation toward $2,800, while a breakdown below the lower support could extend the correction toward 2,550.
Support and Resistance Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,370 | $2,550 | ETH | $2,800 | $3,000 |
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