Ethereum (ETH) could see a 130% price surge to $4,900 if it maintains its critical support at $1,800, according to multiple analysts. The cryptocurrency is currently trading around $2,100, up about 4% over the past week.
Technical Pattern and Analyst Views
Analyst Ali Martinez highlighted that Ethereum's price action is forming an ascending triangle, with $1,800 acting as the key support line. If this level holds, ETH could rally toward $4,900, approaching its all-time high near $5,000 from August 2025. Another analyst, Ted, stressed the importance of maintaining support at $2,000 to avoid a new yearly low, while ALTS GEMS Alert pointed to a potential breakout from a descending channel, suggesting a move above $4,000.
On-Chain Metrics and RSI
On-chain data reveals that Ethereum reserves on exchanges have dropped to near 10-year lows, indicating reduced selling pressure as investors shift toward self-custody. This trend often signals long-term bullish sentiment. Additionally, Ethereum's Relative Strength Index (RSI) has fallen below 30, entering oversold territory. In technical analysis, an RSI below 30 is typically interpreted as a sign that the asset is undervalued and may be poised for a rebound.
Market Sentiment and Outlook
While Ethereum still faces macroeconomic headwinds, analysts remain optimistic about its medium-term trajectory. The $1,800 support level is now the most critical threshold to watch. If it holds, the projected targets—$4,000 to $4,900—are within reach. Investors should monitor price action around this support area and track on-chain flow changes for confirmation.