Market Analysus of ETH/USDT:
It is trading around 3,119, showing a modest recovery after bouncing from the 2,775. The price structure reflects short-term stabilization, but the broader trend is still cautious as Ethereum remains below key long-term resistance levels.
Price action suggests consolidation after a rejection near the 3,300 to 3,350 zone. Buyers are currently defending the 3,000 to 3,050 support area, while sellers appear active above 3,200. As long as ETH stays within this range, sideways movement is likely. A daily close above 3,200 to 3,250 could strengthen bullish momentum and open the path toward 3,350 to 3,400, while a drop below 3,000 may trigger a pullback toward 2,900 and potentially retest the 2,775 low.
Overall, momentum is neutral to slightly bullish in the short term, but Ethereum needs a sustained move above the 3,370 level to confirm a trend reversal. Failure to hold current support would keep price vulnerable to renewed downside pressure.
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