Ethereum / TetherUS — daily chart analysis

ETH’s earlier cycle fell from a January high near 3,400 to a February low near 1,750, recovered toward 2,400 in spring, and then sold off again to roughly 1,500–1,550 in June. A July–August base around 1,850–1,950 broke higher on expanded volume, reaching 2,807.34 in September. That rally remained below the January peak, and the subsequent September–November decline produced lower highs and lower lows. An early-November spike toward 2,450 failed, followed by a break beneath the 2,206–2,240 support area.

At the snapshot price near 2,081, ETH was approaching the recent 2,006 low rather than testing resistance, making an immediate short less attractive in the saved thesis. Several November down sessions showed higher volume than the preceding quiet sessions, supporting the decline, although the latest daily bar was incomplete. RSI14 at 32.7 was negative and near oversold, leaving room for a possible bounce; that is a possibility, not confirmation of a reversal.

The downside setup is conditional, not active: price must first rally into 2,206–2,240 and then close daily below 2,206. Only afterward does the plan watch for an entry opportunity at 2,190–2,206, treating broken support as potential resistance. Renewed selling on that failed retest would strengthen the case. The first target is the recent low at 2,006; if it gives way, the second is the summer-base floor at 1,853.62. A trade at or above 2,330 invalidates the local failed-retest thesis and calls for reassessment.