Ethereum (ETH/USDT) Technical Analysis | Retest or Rejection?

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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