Ethereum is approaching a critical technical point. Analyst Ali Charts says a weekly close below $1,850 could send ETH first toward $1,562 and then to the $1,069 support zone. On the weekly chart, ETH is still trading above $2,127, yet price was recently rejected at $2,282, leaving that level as a near-term barrier and making upcoming weekly closes especially important.
$1,850 remains the main weekly level to watch
Ali Charts shared on X that $1,850 is one of the most important weekly support levels in the current setup. If that floor fails, the chart points to $1,562 as the first downside objective, followed by $1,069. At the same time, the 50-week and 200-week moving averages are converging near ETH’s current price, which adds weight to each weekly close. Before any stronger rebound can develop, Ethereum would need to reclaim the $2,282 weekly zone.
From a broader perspective, ETH is still well below the major resistance at $3,335 and far from its previous cycle high at $4,868. That leaves the market in a position where support has not broken, but upside control has not been restored either.
Long-term chart shows Ethereum still trapped in a wide range
Analyst James EastonUK is looking at a much larger structure. He says ETH, trading near $2,014, remains inside a broad consolidation channel that formed after the 2021 rally. In his view, Ethereum has spent more than five years moving between support and resistance, and long consolidation phases like this have often been followed by strong directional moves.
His chart compares the current setup with earlier sideways periods seen in 2016 and before the 2020-2021 rally. According to that framework, ETH is compressed between major support near $1,200 and upper resistance close to $6,000. Price is still sitting in the lower-middle part of that range. Buyers have repeatedly defended the bottom area, but attempts to clear the upper boundary have failed.
A breakout case needs a move through $6,000
James EastonUK argues that a major upside move would depend on Ethereum breaking out of this multi-year range. In that scenario, a path toward $10,000 would only come into view if ETH first clears $6,000 with conviction. If that does not happen, the long trading range stays intact, and attention returns to whether the $1,200 support area continues to hold.
That leaves Ethereum between two opposing technical paths: a possible upside release after years of consolidation, or a sharper decline if $1,850 fails on a weekly close. The next weekly candles are likely to carry the clearest signal.