Here is a technical analysis of ETH/USDT on the daily timeframe:
Market Structure
ETH has transitioned from a consolidation phase into a clear bullish expansion. The most important feature on the chart is the 28-day consolidation within the $2,360-$2,550 parallel range. For nearly four weeks, price repeatedly tested both boundaries without establishing a sustained directional move.
The eventual breakout occurred with a significant expansion in volume, which strengthens the validity of the move compared with a low-volume breakout. Price subsequently accelerated through the $2,600 area and is now trading around $2,740.
Breakout Confirmation
The breakout candle structure and accompanying volume indicate a decisive shift in market participation. ETH has also moved above the major descending trendline visible on the chart, further supporting the change from the previous corrective structure to a bullish one.
From a technical perspective, the former consolidation ceiling around $2,500-$2,550 becomes an important breakout-support zone. A successful retest and hold of this region would maintain the bullish structure.
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Resistance & Targets
The immediate psychological level is:
- $3,000 (Primary Psychological Target): A sustained move above $3,000 would bring the next major overhead supply/resistance region into focus.
- $3,300-$3,400 (Major Resistance Zone): The $3,400 area is particularly significant because it represents the next major resistance region.
Volume & Momentum
The strongest bullish signal is the volume-backed breakout after 28 days of compression. This suggests the move was accompanied by a meaningful increase in participation rather than simply a marginal range violation. However, after such an extended breakout candle sequence, short-term consolidation or a retest of the breakout area would be technically normal and would not invalidate the bullish structure.
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Overall Technical View
As long as ETH maintains the breakout structure and holds the former resistance zone, the chart’s next major upside reference is $3,000, followed by the $3,300-$3,400 resistance zone. Must watch: A decisive return below the former consolidation range, particularly $2,360–$2,400, would weaken the current breakout structure.
At the time of writing, ETH was trading at approximately $2,740.
Support and Resistance Levels
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,350 | $2,550 | ETH | $3,000 | $3,300 |
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