Update the latest ETHSDT today. 
2024-10-14

The Ethereum (ETH/USDT) chart presented shows a descending channel pattern with clear lower highs and lower lows. The price is currently sitting around $2,544, but it recently tested the upper boundary of the channel near $2,660. The rejection at this level, coupled with the downward trajectory, suggests potential bearish momentum.

The chart indicates that if Ethereum fails to break above this resistance, it could move lower toward the lower boundary of the channel, targeting a level near $2,200. The moving averages (likely EMA) further support the downward trend as they are sloping downward, suggesting that selling pressure may continue in the short term.

Key levels to watch are the resistance at $2,660 and potential support near $2,270. A break below the current support could push Ethereum toward the lower end of the trend channel.