Here is a technical analysis of ETH/USDT on a daily timeframe. ETH experienced a steep decline from a major resistance level and continued falling until it reached $3,435 due to the recent market crash.
Crypto Crash – 10th October 2025
On October 10, 2025, crypto prices crashed after news broke that the U.S. President announced a steep 100% tariff on all Chinese tech exports, sparking global trade tensions. This news caused panic selling and forced leveraged traders to liquidate, wiping out $19 billion in minutes and pushing Ethereum below $3,800 before a partial recovery.
Trend and Structure: The overall chart shows ETH in a broad descending channel, evidenced by two downward-sloping trendlines connecting major swing highs. The price is currently approaching the upper resistance of this channel after a sharp rebound from recent lows.
Recent Price Action: There was a strong sell-off around October 10th, visible as a long bearish candle with a significant spike in volume. This indicates panic selling or liquidations.
Support and Resistance: Immediate resistance is near the downward-sloping trendline around $4,400–$4,500. Key support lies at $3,800, where the price rebounded sharply on high volume, indicating strong buying interest.
Trendlines: The break below the channel support was quickly reclaimed, suggesting a possible bear trap. However, with lower highs and weak follow-through, caution is advised until ETH breaks decisively above the descending resistance.
Market Sentiment: Recovery on lower volume with major overhead resistance suggests that ETH may face selling pressure on rallies. A sustained close above $4,400 would be bullish.
At the time of writing, ETH was trading at $4,250.
Summary: Overall, Ethereum remains in a descending channel, and its next direction depends on whether it can successfully break above resistance or fall back toward support levels.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,600 | $3,800 | ETH | $4,500 | $4,700 |
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