Ethereum is caught between two very different technical setups. One chart points to a long-term rally toward $10,000-$22,000, while the shorter-term view shows ETH losing $1,825 support and opening the path toward $1,603 and $1,409.
Ethereum Expanding Diagonal Pattern Points to Potential $10,000-$22,000 Target
Ethereum (ETH) is forming what analyst Gert van Lagen describes as a highly complex expanding diagonal pattern on the bi-weekly chart. According to the Elliott Wave interpretation shown, ETH is currently developing Wave 5 within a multi-year structure that began after the 2022 bear market low.
Ethereum Bi-Weekly Chart (ETH/USD). Source: Gert van Lagen on X
The chart outlines five corrective waves contained within an expanding triangular formation. Wave 1 peaked near the 2021 cycle high, while Wave 4 appears to have completed around the recent lows near $1,700-$1,800. The analyst suggests ETH has started Wave 5, the final phase of the pattern.
A key feature of the setup is the projected "c" wave of Wave 5. According to the analysis, this final leg could develop into a blow-off style rally. The projection extends toward an orange target zone between approximately $10,000 and $22,000, which aligns with the upper boundary of the expanding structure.
The chart also highlights a series of higher highs and higher lows since 2022. Despite several deep corrections, ETH has continued to respect the broader rising trendline that forms the lower boundary of the diagonal pattern.
However, the bullish outlook depends on maintaining support above the Wave 4 low. Gert van Lagen identifies a break below the Wave 4 structure as the invalidation level. A decisive move beneath that support area would weaken the expanding diagonal count and challenge the projected path toward the upper target zone.
For now, the analysis suggests Ethereum remains within the final stage of a long-term Elliott Wave structure. If the pattern continues to develop as projected, the next major objective would be a move toward the $10,000-$22,000 range before the broader cycle reaches completion.
Ethereum Breaks Key Support as Bears Target Lower Price Zones
Ethereum (ETH) has broken below the critical $1,825 support level, according to analyst Ali Charts. The breakdown came after ETH lost support at $2,073 and continued its decline on the three-day timeframe, signaling growing bearish pressure.
Ethereum 3-Day Chart (ETH/USD). Source: Ali Charts on X
The chart shows ETH trading near $1,746 after closing below the $1,825 support area. This level previously acted as a major floor during the recent consolidation phase. Its loss suggests sellers have gained control of the short-term trend.
The next major support level sits near $1,603. If selling pressure continues, ETH could test that zone in the coming sessions. Below that, the chart identifies $1,409 as another significant support area and the next downside target in the bearish scenario.
From a technical perspective, ETH has now formed a series of lower highs and lower lows since peaking near $2,359. The recent breakdown below both $2,073 and $1,825 confirms weakening momentum and increases the likelihood of further downside movement.
However, for bears to maintain control, ETH must remain below the broken $1,825 support. A recovery back above that level could weaken the immediate bearish outlook and reduce pressure on the lower support zones.
