Ethereum's weekly candle closed at $2,327, pushing above the blue average line on Coinbase's price chart. Analyst Sky highlighted that this marks the first such move since October 2025. Historically, after a similar breakout in October 2025, Ethereum rallied from around $2,400 to $5,000.
Weekly Close Breakout: $2,300-$2,350 Now Key Support
During February and March, Ethereum recovered from the $1,750-$1,950 range and eventually climbed back to near $2,300. Charts indicate the next major resistance sits at $3,154, defined by the red moving average. A decisive break above that level is needed to confirm a full trend reversal. In the short term, the $2,300-$2,350 band has become a crucial support zone. If ETH holds above this range, the immediate upside targets are $2,550 and $2,850. A slip below could refocus attention on the $2,150 level.
Historical Precedent: Over 100% Gain After October 2025 Breakout
Sky drew parallels to October 2025, when a similar breakout above the moving average sent ETH from $2,400 to $5,000 — a surge of more than 100%. Traders are now watching closely to see if the pattern repeats. However, the $3,154 resistance remains a significant hurdle that will require strong buying momentum to clear.
Long-Term Ascending Channel Intact, Lower Trendline Decisive
On Bitstamp's monthly chart, Ethereum is trading at $2,332, moving laterally within a broad ascending channel that has been in development since 2016, with projections extending to 2031. Chart analyst The Great Mattsby described the formation as a trend moving "up and to the right." The lower trendline has consistently provided key support, while the upper band caps the channel. ETH has oscillated between $1,500 and $4,800 for years and currently sits in the lower half of the channel.
A drop below the lower threshold would weaken the bullish case. As long as prices remain above this line, the outlook favors gradual appreciation over the coming years. A green arrow on the chart suggests upside momentum could persist into 2026 and beyond, though it does not guarantee a specific price move. For investors, the critical level to watch is the channel's lower trendline: a close below that support would signal serious risk to the broader uptrend and could trigger a shift in sentiment.