$ETH 📊 Ethereum Daily Chart Analysis — Key Levels to Watch

The Ethereum (ETH) daily chart is showing some interesting market behavior. After reaching its all-time high at $4,955, the price entered a downward channel, signaling sustained correction pressure.

In mid-November, ETH broke below the channel’s lower boundary near $3,300, along with the major support at $3,039. This triggered a deeper decline, which only slowed after price dipped into the $2,600–$2,788 demand zone. From that area, we finally saw a localized rebound and a short-term move upward. 🚀

However, as long as ETH remains below the first descending trendline, we cannot confirm that the broader correction is finished. The overall market structure is still unclear — we may be watching the end of the bullish cycle, or simply another deeper pullback before potential recovery.

For now, long positions are risky. A more cautious approach is to focus on short setups and high-volatility assets, where opportunities are more favorable in the current environment.