Here is a technical analysis of ETH/USDT on a daily timeframe:
Market Structure Overview
ETH is in a confirmed bearish market structure on the daily timeframe after breaking the major support at $2,200.
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Structure of ETH
- Consistent lower highs and lower lows from the 4,800 region
- Failed to hold major support levels
- Breakdown from multi-month consolidation
- Increasing sell volume on the breakdown
This is a trend continuation pattern. Until a higher high forms above the last major swing high of approximately the 3,400 region, the structure remains bearish.
As we can clearly see, ETH has broken the 2,200 major support level and, after that, it is trying to move up, but the volume from buyers is too low compared to selling volume.
If ETH bounces back above the 2,200 support level with very high volume, there is a chance of recovery; otherwise, we may see further downside in ETH.
Currently, ETH is trading in a risky zone, where any buy or sell decision carries higher risk, as there is no clear confirmation on the chart based on technical analysis. However, any positive news in the crypto market can definitely give a boost to ETH.
For long-term investors, it is already a good time to invest, as ETH is more than 50% down from its all-time high (ATH).
ETH is trading below all major EMAs. At the time of writing, ETH was trading at $2,115.
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Here is the chart with a broader view:
Summary: ETH is in a bearish daily structure with lower highs and lower lows after breaking the major support at 2,200 with strong volume. Before taking any buy trades, wait for trend reversal confirmation. Key resistance levels lie at 2.4k–2.5k and 2.8k, where rallies are likely to face selling pressure. Downside risk remains toward 1.9k and 1.6k unless the price reclaims 2.8k with strength and volume.
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Key Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,500 | $1,800 | ETH | $2,200 | $2,800 |
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