Only briefly, market conditions started to change and we saw some worrisome bearish action, ETHUSDT produced a full, classic & normal, retrace to reach the previous resistance zone now working as support.
The same price range that worked as resistance in March, April and May—ETH is testing as support in October 2026. This is a very strong bullish chart setup, there is nothing bearish.
When it comes to support, it remains intact, holding strongly and plenty of buyers showing up as soon as this level became active today. When it comes to resistance, it was challenged for days.
The bullish move pierced beyond resistance, now with a reading of $2,700 around the 0.618 Fib. extension level. The bearish move failed to go beyond support reversing forcefully right at $2,317 which sits above the 0.382 Fib retracement level at $2,310.
Buyers—the bulls—are exerting more pressure on the market, the bulls are winning, prices are rising, resistance has been compromised, support remains strong; there is plenty of support and room for prices to move lower while the bullish structure remains intact.
With any bullish move, the bullish trend gets reinforced and new milestones are reached. Sellers are gone. Only now, new and tons of buyers are showing up.
Nothing changes with ETHUSDT, we continue 100% bullish. The next target sits at $2,700 followed by $3,000, right above $3,000 we have $3,400 and up we go long-term.
Thank you for reading.
Namaste..
