Ethereum is currently trading near the $1,850 mark, prompting some analysts to suggest that the cryptocurrency could be entering a potential final pullback phase before any significant recovery. Many agree that the next critical test for the market may emerge around the $1,750 level. Should this key area come under pressure, it could pave the way for a deeper dip before ethereum attempts a stronger upward move.
Chart analysis draws parallels to earlier market cycles
In a three-day chart shared by the trader known as Tardigrade, the current zone for ethereum was flagged as a potential bottom. The analyst compared the latest price structure to a previous pattern observed in early 2025. Back then, ethereum slipped below an ascending channel, formed a bottom, and then began a notable recovery phase.
Currently, ethereum appears to have lost momentum in the $2,300 to $2,400 range before slipping below a similar upward channel. Since then, the price has gravitated towards the $1,850 to $1,900 area, which Tardigrade identified as likely marking the last pullback region.
A comparative chart suggests ethereum may be repeating its prior cycle: rally, channel formation, breakdown, establishing a final low, and subsequent recovery.
If this scenario plays out as it did in the past, ethereum could see renewed strength after one final low. The projection highlighted on the chart points to a short-term target zone between $3,000 and $3,300, while a broader outlook for 2026 features a range of $6,000 to $6,500. However, these projections hinge on the ability of ethereum to defend its current support range.
The analysis warns that a decisive drop below $1,850 could undermine this setup, while a recovery back above $2,100 to $2,300 would further reinforce the bullish narrative.
Short-term rebound possible before another $1,750 test
A separate assessment by Always Win suggests ethereum may first experience a short rebound before revisiting lower support levels. This scenario anticipates a climb towards near-term resistance, potentially followed by a retest of previous low points if selling pressure resumes.
The charts show ethereum trading around $1,845 following a sharp decline from the $1,960 resistance. Price action is currently below the descending trend line, and the nearest resistance is clustered between $1,875 and the $1,935-$1,940 zone.
Quick glossary: A liquidity sweep occurs when price briefly moves beyond previous highs or lows, triggering stop orders and resting trades in the market. Some technical analysts view this as a temporary price movement before a shift in direction.
According to the analyst, ethereum might rally to test these resistance zones, but if sellers step in again, the price could retreat towards the $1,748 area—a level that nearly matches the previous swing low.
The chart scenario indicates that reclaiming this support could enable ethereum to attempt a stronger recovery, potentially targeting resistance near $1,960 again. Still, this outcome depends on a sequence of rebound, liquidity sweep, and then a sustained bounce.
