$ETH 7 Daily Technical Analysis

On the weekly chart, ETH is within a broad corrective decline.

Although it is trying to stay above the long-term upward trend:

The last few weekly candles are red.

The top formation has broken downward.

This structure:

Means that "The medium-term corrective trend continues."

1W Support – Resistance Levels

Supports

1. 3.155 → Weekly short-term support

2. 3.055 → Medium-term strong support

3. 2.970 → Weekly main support (if broken, the trend will be disrupted)

4. 2.750 → The most important support area in the big picture

Resistances

1. 3.343 → Weekly first serious resistance

2. 3.583 → Weekly EMA and horizontal strong resistance

3. 3.900 → Main weekly major resistance

4. 4.100 → Critical level for trend reversal

RSI (Weekly)

RSI is downward sloping → momentum is weak.

If it is below the 50 level, the trend has lost strength.

RSI (Weekly)

RSI is downward sloping → momentum is weak.

If it is below the 50 level, the trend has lost strength.

Bullish Scenario Weak

The weekly candle:

Needs to close above 3.343.

If this happens, targets are:

1. 3.583

2. 3.900

3. 4.100 (confirmation of trend change)

Bearish Scenario Currently Stronger

Price

If 3.155 is broken and a weekly close comes below →

3.055 is tested quickly.

If 3.055 is broken → target is 2.970

If 2.970 is broken → 2.750 becomes the weekly main target.

The appearance of the trend is currently biased downwards.

Trend: Medium-term correction – short-term downward pressure

Momentum: Negative

Critical defense line: 3.155 → 3.055 → 2.970

The most important area to break for a reversal: 3.343 – 3.583.