Here is a technical analysis of ETH/USDT on a daily timeframe.
ETH is repeatedly getting rejected from the major descending trendline. This line has been acting as strong resistance, and every time the price touches it, sellers push it down. Until ETH breaks above this trendline with strong volume, the overall trend remains weak.
The price has fallen below the important support zone of $3,350–$3,400. This level held the price for several days, but now that it has been broken, it has turned into resistance. This means any upward move may struggle to break above this zone again.
ETH is forming a pattern of lower highs and lower lows, which is a classic sign of a bearish trend. As long as this pattern continues, buying becomes risky because sellers remain in control.
Volume shows stronger selling pressure than buying pressure. On the days when the price drops, volume is higher compared to the days when the price rises. This indicates that the downward movement is supported by genuine selling rather than minor corrections.
Also Read: Bitcoin Technical Analysis Report – 17th November 2025
ETH is moving toward a key demand zone around $2,800–$2,900. This area has acted as support before and could trigger a bounce. However, if this zone breaks, the next strong support lies around $2,550–$2,600. For safer entries, traders should wait for a clear bounce or a trend reversal pattern.
At the time of writing, ETH was trading at $3,009.
Summary: ETH is showing a clear bearish trend with lower highs, lower lows, and repeated rejection from the descending trendline. The break below the $3,350–$3,400 support confirms seller dominance, supported by higher selling volume. Price is heading toward the $2,800–$2,900 demand zone, where a bounce is possible, but confirmation is essential before considering any buys.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,800 | $2,900 | ETH | $3,600 | $3,900 |
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