Ethereum’s daily chart shows price holding near a marked support area while facing a descending resistance that has guided the broader downtrend. The structure frames near-term price behavior and defines clear technical boundaries.
Price action reflects earlier strength that faded into a steady decline. Since then, candles have compressed into a narrower range. The chart labels these zones with clear support and resistance levels.
The setup appears on a daily timeframe sourced from TradingView and references data from Binance. The layout focuses on trend direction rather than short-term volatility.
The chart shows an earlier rising phase before sellers gained control. Price then rolled over and began forming lower highs. A downward-sloping resistance line connects these peaks. That resistance line continues to cap upside attempts. Each approach toward it has aligned with visible rejection points. As a result, the downtrend remains technically intact.
Meanwhile, horizontal levels divide the chart into clear zones. These levels define where price has reacted repeatedly. Together, they frame the market within a narrowing corridor.
Price later reached a lower region marked as key support. After that move, candles stabilized and volatility contracted. This behavior signals reduced directional momentum at that level. Several sessions clustered near the support line. Wicks extend below it, yet closures remain nearby. This pattern shows continued interaction with the same price area.
From there, price attempted modest rebounds. These moves stayed limited and did not reach the descending resistance. The chart, therefore, reflects stabilization rather than reversal.
A marked arrow on the chart points upward toward resistance. This visual cue aligns with recent higher lows forming near support. The structure suggests a potential test of upper boundaries. Still, the resistance line remains unbroken. Until the price reaches that zone, the broader structure does not change. The chart, therefore, centers attention on that level.
Will price sustain movement away from support long enough to challenge the descending resistance? The answer depends on how the price behaves within these clearly defined boundaries.
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The article shows Ethereum trading near a clearly defined support zone while a descending resistance controls upside attempts. The daily chart reflects consolidation after a prolonged decline. Price remains range-bound. Market participants now watch whether Ethereum can move away from support and approach resistance with sustained momentum.