ETHUSD | Daily Technical Outlook
Market Structure
Ethereum remains in a clear bearish trend, with price sliding steadily lower over recent weeks. After failing to hold above previous support levels, ETH extended its decline and is now trading around $2,825-$2,830, close to the recent swing lows.
The strong sell-off seen recently was followed by a period of sideways consolidation and a mild intraday rebound. However, this recovery so far looks corrective rather than a clear trend reversal, as the broader structure still shows lower highs and lower lows across the higher timeframes.
Key Resistance Zone
The first significant resistance now sits around $2,860-$2,900, where the latest bounce is stalling and where moving averages are starting to compress overhead.
Above that, further resistance levels are:
- $2,950
- $3,000-$3,050 (major breakdown area from the previous range)
As long as ETH trades below $2,900-$2,950, rallies are likely to be viewed as corrective within the broader downtrend.
Key Support Zone
Immediate support lies around $2,780-$2,800, which has been repeatedly tested since the recent drop.
If this zone fails, the next downside areas to watch are:
- $2,730-$2,740
- $2,680-$2,700 (deeper structural support from previous lows)
A decisive break below $2,780 would confirm renewed bearish pressure and open the door to these lower targets.
Expectations
Bearish Scenario (Primary)
Given the prevailing downtrend, the base case favors further weakness as long as ETH stays below $2,900-$2,950.
- A rejection from this resistance zone and a move back under $2,800 would likely trigger a continuation lower toward $2,740, with potential extension toward $2,700 if selling accelerates.
Bullish Scenario (Alternative)
For buyers to gain traction, ETH needs to hold above $2,780 and then break convincingly above $2,900.
- A sustained move over $2,900-$2,950 could signal a more meaningful corrective recovery, targeting $3,000 and possibly $3,050-$3,100.
- Until that happens, any strength remains countertrend.
Outlook
Ethereum is attempting to stabilize after a sharp decline, but the broader picture remains bearish. Short-term consolidation around $2,825 may offer temporary relief, yet the risk still leans to the downside while price trades below the $2,900-$2,950 resistance band. A break of $2,780 would likely confirm the next leg lower, whereas only a recovery above $2,900 would start to challenge the current downtrend.
