Ethereum’s price has managed to stay firm at the crucial $2,088 support, which corresponds to the 0.5 Fibonacci retracement level, after a recent bounce. Analysts point to ETH’s resilience, with recent Bitstamp exchange charts showing that price action is being reinforced by both the Fibonacci level and the shift to green on the Gaussian Channel indicator.
Key support and technical outlook
On the daily ETH/USD chart, Ethereum is currently trading around $2,129, with the $2,088 region acting as a major support. Despite repeated selling pressure, the coin’s ability to hold this area is seen as a positive signal for a potential upward reversal.
The chart’s Gaussian Channel has shifted from purple to green following a prolonged downturn, a change often indicating growing bullish momentum. Ethereum’s price is now near the lower boundary of this channel, a zone analysts view as a potential springboard for a rally.
A similar technical setup was observed around mid-2025; during that period, Ethereum bounced from the green Gaussian Channel range, rising from roughly $2,100 to surpass $4,900 in the subsequent months.
According to analysts, if Ethereum’s price remains above $2,088, the bullish scenario stays intact. However, if the daily close falls below this level, positive momentum could weaken, bringing $2,097—the lower side of the channel—into focus.
Should ETH maintain the critical $2,088 support, subsequent resistance points can be found at $2,561 (0.618 Fib) and $3,424 (0.786 Fib). Breaking through these resistances may reignite broader optimism for a significant rebound.
Long-term bullish signals
A separate analysis focused on Ethereum’s long-term prospects comes from a biweekly chart shared by Crypto Patel on social media, highlighting ETH’s movement within a rising channel extending from 2016 up to projections for 2029.
In these historical price cycles, Ethereum witnessed major peaks followed by deep pullbacks; each new upward wave concluded higher than the previous one. After reaching its first major peak in 2018, ETH initiated a new rally from the lows of 2020, setting fresh records in 2021 before entering the current correction phase.
Currently, ETH’s price is once again positioned near the lower section of this rising channel. Crypto Patel describes the ongoing move as “wave 2,” which he interprets as a signal that an extended bullish cycle could still be in progress.
According to data from CryptoAppsy, Ethereum is presently trading near $2,129. The long-term chart cited by analysts sets the 2.618 Fibonacci extension level at $14,275, making the $15,000 area a notable target for the next rally.
For this bullish scenario to materialize, Ethereum needs to preserve its long-term ascending channel. Should price drop below the channel, upward projections would lose their validity.
The current charts strongly emphasize the importance of maintaining price action above $2,088 and within channel support. Targets above $15,000 will first require reclaiming key intermediate resistance levels.
