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ETH/USDT Daily Analysis
Ethereum is currently caught in a longer-term descending channel. The price has been steadily pressing against the upper trendline, which is now acting as a key resistance level. This positioning is critical—it could signal an attempt to break free from the downtrend.
The real catalyst will be a confirmed daily close that breaks decisively above this trendline. Should that happen, it would represent a structural breakout from the descending channel. Once that resistance cracks, the door opens for a potential trend reversal and upside momentum.
Traders are watching this level closely. The daily timeframe confirmation is key here—any close above the upper trendline could trigger the next leg up. This is the kind of setup where structure breaking often leads to follow-through buying pressure.