Here is a technical analysis of ETH/USDT on the daily timeframe:
Market Overview
Ethereum (ETH/USDT) is currently trading around $1,780 on the daily timeframe and is consolidating after a strong recovery from the June lows. The price has successfully reclaimed the $1,750–$1,780 region and is now trading just below a key horizontal resistance near $1,830–$1,850. The sharp bearish momentum seen during May and early June has weakened considerably, with buyers maintaining control in the short term. However, Ethereum remains below the major resistance zone that needs to be broken for a broader trend reversal.
Recent Price Action
Ethereum has continued to build on its recovery from the $1,550 support level, with buyers driving prices higher and recovering much of June’s decline. More recently, the price has been consolidating beneath the $1,830–$1,850 resistance, indicating a pause before the next directional move.
Current Structure and Trend
Ethereum’s short-term trend remains positive, as the price continues to hold above recent support levels and trades just below the $1,850 resistance. Buyers remain in control, but the market is awaiting a strong move to confirm the next direction.
If ETH closes above $1,850 on the daily timeframe, it could continue its rally towards the $2,000 level. However, if the price falls below the $1,700–$1,720 support zone, it may experience a short-term pullback before attempting to move higher again.
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Volume and Momentum
Trading volume has moderated following the strong recovery, which is typical during consolidation phases. The absence of heavy selling pressure suggests that market participants are holding their positions rather than aggressively taking profits.
Momentum remains moderately bullish, although a noticeable increase in buying volume would strengthen the probability of a breakout above the current resistance zone.
At the time of writing, ETH was trading at approximately $1,780.
Summary: Ethereum continues to maintain a positive short-term outlook following its strong recovery from the June lows. The market is currently consolidating below the $1,830–$1,850 resistance zone, suggesting that traders are awaiting a catalyst for the next directional move. As long as ETH remains above the $1,700 support region, the bullish structure remains intact. A decisive breakout above $1,850 would likely confirm a continuation towards $2,000, while rejection at resistance may lead to another healthy retracement before the next advance.
Support and Resistance Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,550 | $1,700 | ETH | $1,850 | $2,000 |
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