ETHUSDT Weekly 18th JulyEthereum / TetherUSBINANCE:ETHUSDTIIAFEthereum is currently trading near a critical long-term support zone after a prolonged corrective phase. From a structural perspective, the market remains under bearish pressure, but the current area may serve as a temporary demand zone before the next significant move. The $1,520 region represents a major support level, aligning with higher-timeframe (Daily/H4) demand. As long as this level holds, ETH could stage a recovery toward the primary resistance zone. The first major upside objective lies around $2,820, where a strong resistance area and previous supply zone converge. This region is expected to attract liquidity and could trigger selling pressure. However, I do not expect this resistance to be broken on the first attempt. Instead, my primary scenario is for Ethereum to complete a corrective rally into this supply zone, sweep liquidity, and then resume its broader bearish trend. If sellers regain control from the highlighted resistance, the market could initiate another impulsive decline, potentially targeting significantly lower price levels over the longer term. Bullish Scenario Holding above $1,520 support. Recovery toward the $2,820 resistance zone. Liquidity sweep above intermediate highs. Bearish Scenario (Primary) Rejection from the $2,820 supply zone. Market structure remains bearish on the higher timeframe. Continuation of the long-term downtrend toward substantially lower levels. Key Levels Support: $1,520 Resistance: $2,820 Higher Resistance: $4,800 Conclusion Although Ethereum may experience a medium-term recovery, the broader market structure still favors caution. Unless buyers can establish acceptance above the major resistance zone, any rally into supply should be viewed as a potential selling opportunity rather than the beginning of a new bull market.