ETHUSDT | Bearish Structure Continues as Ethereum Tests a CriticEthereum / TetherUSBINANCE:ETHUSDTedall_trader# ETHUSDT | Bearish Structure Continues as Ethereum Tests a Critical Support Zone **Market:** Ethereum / USDT **Exchange:** Binance **Timeframe:** Daily (1D) **Date:** November 1, 2026 ### 1. Market Structure Following a strong impulsive rally, Ethereum reached the **$2,776** resistance area but failed to establish a sustained move above this level. Since then, the market has gradually shifted into a bearish structure, characterized by lower highs and lower lows within a descending price channel. The selling pressure became more evident after ETH lost the **$2,520** support area, which had previously acted as an important price level. This breakdown suggests that sellers currently have the upper hand in the short-term market structure. ### 2. Key Levels to Watch - **$2,776:** Major resistance and previous swing high. - **$2,520 – $2,524:** Broken support, now a potential resistance area. - **$2,245 – $2,250:** Current key support and potential reaction zone. - **$1,845:** Next major support area marked on the chart. ### 3. What Could Happen Next? **Scenario A – Bearish Continuation** If Ethereum fails to hold the **$2,245 – $2,250** support zone and establishes a daily close below it, selling pressure could increase. A failure to reclaim this area may strengthen the bearish structure and increase the possibility of a deeper correction toward lower support levels. **Scenario B – Potential Recovery** On the other hand, if buyers defend the current support zone and price shows a strong rejection of lower levels, a short-term recovery could develop. However, a bounce from support alone would not confirm a trend reversal. Reclaiming the descending trendline and eventually recovering the **$2,520** area would provide stronger evidence of improving market conditions. ### 4. Market Outlook Ethereum remains under short-term bearish pressure following its rejection near $2,776 and the breakdown below $2,520. The current reaction around **$2,245 – $2,250** is particularly important. The market is approaching a key decision area: will buyers defend this support, or will sellers manage to push price into a deeper correction? For now, the focus remains on price reaction, daily candle closes, and volume confirmation. **The structure remains bearish until the market proves otherwise.** --- **CandleScope Markets** *See Beyond The Chart.* Independent Market Research | Gold • Forex • Cryptocurrency Educational and informational purposes only. Not financial advice. @edall_trader