🔍 Ethereum Technical Analysis (ETH/USDT) – Daily Time Frame

📈 Chart Insight:

Ethereum has recently shown a strong bullish breakout above a major resistance zone marked in the purple area. This resistance zone has held back price action multiple times in the past, but the recent bullish momentum has pushed ETH well above it, signaling strong buyer dominance.

🟪 Resistance Zone:

The zone between ~$2,900 to ~$3,000 acted as a significant resistance on the daily time frame.

Multiple rejections in this area previously indicated a supply-heavy region.

Now that price has successfully broken above, it may act as a support zone in the future.

🟢 Bullish Confirmation:

The breakout is backed by strong volume, adding validity to the move.

ETH is forming higher highs and higher lows, showing a clear buy trend.

A clean break above the previous resistance suggests potential continuation toward new highs.

📉 Previous Reaction:

The price had previously dipped to a demand zone (circled area) near ~$2,130 and quickly rebounded, indicating strong buyer interest at lower levels.

📌 Conclusion: Ethereum is currently in a strong uptrend. If the breakout holds, we may see price continuation toward higher resistance levels. However, traders should watch for potential retests of the previous resistance zone, now turned support, for confirmation.