Ethereum (ETH/USDT) Technical Analysis | Retest or Rejection? The Market Decides
As shown in the 30-minute chart, Ethereum recently broke below the key support at $2,531, entering a short-term bearish phase. After the sell-off, ETH is now in a retracement move and testing the descending trendline from below — a critical decision point for the next move.
🟢 Bullish Scenario: Breakout and Recovery Ahead
If ETH can break above the descending trendline with strong bullish momentum, the next resistance levels to watch are:
$2,531 – the previous support turned resistance
$2,573 – the next major resistance, which could trigger further upside
A confirmed breakout above these levels could shift short-term momentum back in favor of the bulls.
🔻 Bearish Scenario: Rejection and Continuation of the Downtrend
If ETH fails to break the trendline and gets rejected, we may see a new leg down. In that case, keep an eye on these key support levels:
$2,484 – short-term support
$2,453 – local support with multiple recent reactions
$2,393 – a major support zone and potential bounce area
📌 Conclusion
Ethereum is at a technical crossroads. A clean breakout or a sharp rejection from this trendline could define the next major move. Traders should watch for clear candlestick confirmations and volume spikes before taking action.
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As shown in the 30-minute chart, Ethereum recently broke below the key support at $2,531, entering a short-term bearish phase. After the sell-off, ETH is now in a retracement move and testing the descending trendline from below — a critical decision point for the next move.
🟢 Bullish Scenario: Breakout and Recovery Ahead
If ETH can break above the descending trendline with strong bullish momentum, the next resistance levels to watch are:
$2,531 – the previous support turned resistance
$2,573 – the next major resistance, which could trigger further upside
A confirmed breakout above these levels could shift short-term momentum back in favor of the bulls.
🔻 Bearish Scenario: Rejection and Continuation of the Downtrend
If ETH fails to break the trendline and gets rejected, we may see a new leg down. In that case, keep an eye on these key support levels:
$2,484 – short-term support
$2,453 – local support with multiple recent reactions
$2,393 – a major support zone and potential bounce area
📌 Conclusion
Ethereum is at a technical crossroads. A clean breakout or a sharp rejection from this trendline could define the next major move. Traders should watch for clear candlestick confirmations and volume spikes before taking action.
🚨 If you found this analysis helpful, smash that follow button! I post real-time charts, clean setups, and no-fluff insights to help you stay ahead of the market. Let’s grow together! 💥
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.