ETH/USDT Technical Analysis: Bearish Continuation

The daily chart for Ethereum shows a definitive shift in market structure from a period of consolidation to a strong bearish breakdown. After failing to maintain levels above $3,000, ETH has entered a corrective phase characterized by high selling pressure.

Key Technical Observations
Breakdown of the Rising Wedge: In late 2025/early 2026, Ethereum traded within a tightening wedge. The recent aggressive move lower represents a formal breakdown of this pattern, signaling that bears have taken full control.

Resistance Flip: The previous support zone near $2,200 has now flipped into a Supply Zone (Resistance). As long as price remains below this blue box, the short-term outlook remains bearish.

Targeting Major Demand: The price is currently gravitating toward the primary Demand Zone located between $1,400 and $1,600. This area historically acted as a strong floor and is the most likely spot for a potential trend reversal or significant bounce.

Market Outlook
The blue arrow indicates a "retest and reject" scenario. The current price action suggests a brief consolidation or "dead cat bounce" toward $2,200 before a final leg down to test the $1,500 psychological level. Traders should watch for exhaustion candles near the lower demand zone for potential long entries.