$ETH /USDT TECHNICAL ANALYSIS: STRONG RALLY TESTS RESISTANCE NEAR $2,730, PULLBACK OR BREAKOUT NEXT?
$ETH /USDT pair is trading at $2,673.69, showing a sharp +7.36% gain on the day. After surging from a 24h low of $2,483.45 to a high of $2,726.78, Ethereum is now approaching a critical resistance level, where the market must decide between consolidation or breakout.
๐ Technical Breakdown:
Resistance Zone: Price is currently testing $2,714โ$2,730, a key resistance area from recent swing highs.
Support Levels: Initial support lies at $2,640, with deeper demand zones at $2,600 and $2,560.
Momentum: The 1h and 4h charts show strong bullish candles, but with a slight loss in momentum near resistance, suggesting short-term caution.
Volume Spike: With 746,849.68 ETH traded in 24h and $1.96B USDT volume, participation is highโfueling potential continuation if resistance breaks.
๐ Market Performance:
7 Days: +5.05%
30 Days: +7.17%
90 Days: +36.90%
180 Days: -29.47%
๐ Market Outlook:
Ethereum is in rally mode, but the $2,730 zone is critical. If bulls manage to break and hold above this level, we could see a run toward $2,800โ$2,850. On the flip side, rejection here may trigger a healthy pullback toward $2,600โ$2,560 before resuming upward.
๐ Key Levels to Watch:
Breakout Target: $2,800+
Support Floor: $2,600โ$2,560
Conclusion: ETH remains bullish, but is nearing exhaustion at current levels. Traders should watch closely for either breakout confirmation or signs of short-term rejection.