Here is a technical analysis of ETH/USDT on the daily timeframe:
Market Overview
Ethereum (ETH/USDT) is currently trading around $1,778 on the daily timeframe, showing signs of recovery after the steep decline witnessed earlier this month. The recent bounce from the $1,550 region has improved short-term sentiment, but ETH continues to trade below major resistance levels, keeping the broader outlook cautious. The market is now entering a consolidation phase, where buyers are attempting to regain momentum while facing overhead supply.
Recent Price Action
After establishing a bottom near $1,550, Ethereum has formed a gradual upward move, supported by a short-term rising trendline. The recovery has been steady rather than explosive, indicating controlled buying interest rather than aggressive accumulation. Price has also reclaimed the $1,700 region, providing an initial sign of stabilization following the sharp sell-off.
Current Structure and Trend
The short-term structure has improved with the formation of higher lows, but the overall daily trend remains neutral to bearish until stronger resistance levels are reclaimed. A sustained move above $1,850 could strengthen bullish momentum, while a rejection from current levels may lead to another retest of the recent support zone.
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Volume and Momentum
Selling pressure has eased considerably compared to the earlier decline, while buying activity has gradually improved. However, momentum remains moderate and still requires stronger participation to confirm a lasting reversal. As long as ETH holds above its recent rising trendline, the possibility of further recovery remains intact.
At the time of writing, ETH was trading at approximately $1,778.
Summary
Ethereum has recovered from its recent lows and is showing early signs of stabilization, supported by a developing short-term uptrend. While the immediate downside pressure has reduced, the market still faces significant overhead resistance. The coming sessions will be crucial in determining whether the current rebound evolves into a broader recovery or remains a temporary rally.
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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