Here is a technical analysis of ETH/USDT on a daily timeframe:
Market Overview
Ethereum is currently trading around $2,300 and is still in a recovery phase after the February crash. The market has improved compared to last month, but let’s be clear, this is not a confirmed bullish trend yet. What we are seeing is a gradual climb with repeated rejections, not a strong breakout. The overall structure is shifting from bearish to neutral with a slight bullish bias, but the broader trend is still not fully reversed.
What Happened Recently
Over the past 1–2 weeks, ETH pushed above the key $2,200 level, which was acting as strong resistance earlier. That was a positive move. After that:
- Price moved toward $2,350-$2,400
- Faced rejection multiple times in that zone
- Pulled back slightly and is now hovering near $2,300
So basically, ETH is trying to move higher but is struggling to maintain momentum.
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Price Structure & Trend
Now the structure is a bit cleaner than before:
- Higher lows are forming (good sign)
- But higher highs are weak and getting rejected
- Price is still below major resistance zones
There is also a rising trendline support from the $1,800 bottom, which is still holding. As long as the price respects this, downside remains limited in the short term. ETH is essentially squeezed between support and resistance. Until ETH properly reclaims the 100 and 200 EMA, the trend is not fully bullish.
Volume & Strength
Volume is still not very strong. Compared to the February dump, current buying volume is much lower. This indicates that the market is recovering slowly, but there is no aggressive buying yet. That’s why the price is moving up, but without conviction.
At the time of writing, ETH was trading at $2,300.
Summary: Ethereum is currently trading around $2,300 and showing signs of recovery after the earlier downtrend, but it still hasn’t confirmed a strong bullish reversal. The price has managed to stay above the key $2,200 level and is forming higher lows, which is positive, but it continues to face rejection around the $2,400 zone, indicating that buyers are not strong enough yet. The upward move is slow and lacks strong volume, reflecting weak conviction. ETH is in a transition phase, improving but still not fully bullish, and needs a strong breakout above $2,400 to confirm further upside; otherwise, it may continue to move sideways or pull back.
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Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,000 | $2,200 | ETH | $2,400 | $2,700 |
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