Ethereum (ETH) is currently consolidating within the $1,550–$1,585 range. Having faced intense selling pressure in recent days, ETH is at a technically critical juncture regarding support and potential breakouts.

Key technical outlook and levels on the daily timeframe:
Price Trend and Pattern: The ETH/USD pair has deepened its downtrend, losing nearly 25% of its value over the past month. Recently, it has formed "lower highs" after facing rejection at resistance zones and has tested the key support line in the $1,500–$1,530 range.
Critical Resistance Levels: For an upward recovery to begin, the $1,675–$1,720 zone must first be surpassed in the short term. Daily candle closes above the $2,040 level are crucial for the trend to turn fully positive.
Critical Support Levels: To the downside, the $1,510–$1,500 band serves as a vital psychological and technical support level. Daily closes below this zone could deepen the bearish wave, potentially pushing the price down to the $1,380 level.
Market Dynamics: While the 24-hour trading volume hovers around $18 billion, indicators currently show a period of sideways movement characterized by indecision (energy accumulation) near the oversold zone.