ETHUSDT (1D) remains firmly bearish following the confirmed loss of the $2,770–$2,640 supply zone, which has now flipped into strong resistance. The macro structure continues to print lower highs, with major rejections recorded at $4,946, $4,768, and most recently $3,385, all aligning with the descending trendline and reinforcing dominant seller control.
Price is currently trading below $2,555 and consolidating within a bearish continuation pennant inside the broader descending channel. The breakdown from this pennant activates the minimum measured move toward the $2,200–$2,100 demand pocket, while sustained acceptance below this region exposes the final downside target near $1,870–$1,700, which also coincides with the lower channel boundary and prior high-timeframe demand.
Any recovery remains corrective unless ETH can reclaim and hold above $2,700, with full structural invalidation only occurring on a daily close back above $3,385.
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