Here is a technical analysis of ETH/USDT on the daily timeframe:
ETH witnessed a strong recovery from the $1,550-$1,600 support zone, followed by a steady upward move that formed a rising consolidation pattern between $1,850 and $1,950. The price eventually broke above this structure with strong buying volume, pushing ETH towards the $2,500 level and subsequently into the $2,800 zone.
After facing resistance near $2,800, ETH entered a correction and is currently trading around $2,250. The price action has formed a clear downward-sloping channel, with lower highs and lower lows, indicating that sellers remain in control in the short term. ETH is also trading below the previous consolidation zone of $2,350-$2,550, which now serves as an important resistance area.
On the downside, $2,200-$2,250 represents immediate support, followed by a stronger support zone around $2,050-$2,100. A break below these levels could expose ETH to further downside towards $1,900-$1,950. On the upside, a move above $2,350 could offer some relief, while a sustained breakout above $2,500 would be a key signal of a stronger recovery.
Also Read: 10 Cryptos to Buy Under $1 in November 2026
Overall, ETH’s daily structure remains bearish in the short term as long as the price continues to trade within the descending channel. However, a breakout above the channel, supported by strong buying volume, could signal a potential trend reversal. Until then, the price may remain under pressure, making the $2,200 support and $2,350 resistance levels important to watch.
At the time of writing, ETH was trading at approximately $2,250.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,100 | $2,200 | ETH | $2,550 | $2,700 |
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