ETH/USDT Weekly Analysis:
ETH price has retraced near the long-term upward trend line, while also being at an important support area since 2022 (around $1,850-$1,900).
🔹 Key Support: $1,850-$1,900. If stabilized, a rebound from oversold conditions is expected.
🔹 Resistance Area: The upper resistance area at $2,800 remains strong, and only a breakout may bring it back to the trend.
🔹 Volume Observation: Recent decline has seen increased volume, indicating weak market sentiment, but the reaction near the key support area is worth noting.
📌 Action Strategy:
• If support around $1,850 holds, there may be a short-term rebound opportunity, focusing on the $2,000-$2,200 range.
• If the trend line is broken, the support below is at $1,500-$1,600, which may face a larger adjustment.
Market sentiment remains weak, patiently observe the support reaction, and avoid blind bottom-fishing.
