Ethereum wrapped up the week at a notable high, surpassing a key average for the first time since October 2025. This milestone has once again drawn market participants’ attention to Ethereum’s recovery potential. As the blockchain platform powering numerous smart contracts and ranking as the second largest cryptocurrency by market capitalization, Ethereum’s performance is generating renewed interest and optimism in the market.
Weekly closing level and resistance zones take the spotlight
Ethereum’s weekly close settled at $2,327, breaking above the blue average line on Coinbase’s price chart. Analyst Sky emphasized that this is the first time such a move has occurred since October 2025. Historically, shifts above these moving averages often signal a change in market momentum.
Sky highlighted that after a similar breakout in October 2025, Ethereum rallied from around $2,400 to $5,000.
Charts indicate that during February and March, Ethereum recovered from the $1,750 to $1,950 range, eventually returning to levels near $2,300. However, the next significant resistance stands higher at the $3,154 mark, defined by the red moving average. Unless ETH makes a decisive move above this area, a full reversal of the long-term trend remains uncertain.
In the short term, the $2,300 to $2,350 band now acts as a crucial support zone. If Ethereum maintains its foothold above this range, immediate targets shift upwards to $2,550 and $2,850. Conversely, a slip below the average could refocus the trajectory towards the $2,150 level.
Long-term ascending channel remains intact
On the monthly chart from Bitstamp, Ethereum is currently trading at $2,332. The price continues its lateral movement within a broad ascending channel that has been developing since 2016, with projections extending out as far as 2031.
Chart analyst The Great Mattsby described the long-term formation as a trend moving “up and to the right.” The lower trendline has consistently provided essential support, while the upper band sets the top boundary of the channel. For years, ETH has fluctuated between $1,500 and $4,800, remaining in the bottom half of this channel.
A potential move below the lower threshold could dampen the bullish scenario. Yet as long as ETH stays above this line, forecasts continue to favor price appreciation in the coming years. A green arrow in the chart suggests that upside momentum could persist into 2026 and beyond, though this does not guarantee a specific price movement.
The technical analysis indicates that Ethereum maintains its positive outlook as long as it remains above the channel’s lower trendline.
Ultimately, for investors, the critical level to watch is the trendline marking the lower boundary of the channel. A close beneath this support could signal a serious risk to the broader upward trend scenario and would be a key indicator for a potential shift in market sentiment.
