Ethereum is sitting at a key point, with two major charts showing very different but connected signals. One warns that ETH may still need to retest $1,100, while the other suggests the current pullback could be the final stage before a stronger bullish wave.
Ethereum Chart Shows $1,100 as Key Buy Zone
Ethereum is trading near $1,570 as the weekly chart points to one major level buyers may be watching: $1,100.
The chart shows ETH moving lower after failing to hold the $2,900 area earlier in 2026. Price is now below the $2,000 zone, which means momentum still looks weak in the short term.
The key level on the chart is $1,100. Since 2021, that area has acted as a major long-term support zone for Ethereum. If ETH falls toward that level and holds, it could become a high-interest area for long-term spot buyers.
ETH weekly chart. Source: Ali Charts on X
But ETH is not at $1,100 yet. That matters. Buying too early near $1,570 would mean entering before the chart confirms whether buyers can defend the lower range.
A stronger setup would be a move toward $1,100 followed by a clear bounce, strong weekly close, or higher low. Without that confirmation, the risk remains that ETH can continue lower.
If $1,100 holds, the first recovery target would be around $2,000. After that, $2,900 becomes the next major resistance. A larger recovery could put $3,900 and $4,800 back on the chart, but only if ETH regains momentum.
For now, the chart gives a simple message: $1,100 is the main support to watch. ETH may offer a better long-term entry there, but only if buyers defend it.
Ethereum Elliott Wave Chart Points to Possible Wave 3 Rally
Ethereum is trading near $1,623 as one analyst says the current pullback may be part of a larger Elliott Wave setup.
The weekly chart shows ETH completing what is labeled as a higher-degree Wave 1 after a five-wave advance from the 2022 lows into the 2025 high. After that, the chart marks a corrective A-B-C structure, with ETH now near the “C” wave low.
ETH futures weekly chart. Source: Cantonese Cat on X, TradingView
That matters because, in Elliott Wave theory, a completed Wave 2 correction can be followed by Wave 3. Wave 3 is often the strongest part of a bullish cycle, when price breaks higher with stronger momentum.
For now, the setup is not confirmed. ETH is still trading near the lower end of the structure after a sharp decline from the $2,300 area. The first sign of strength would be a recovery back above $1,700, followed by a stronger move toward $1,900 and $2,300.
If ETH can hold the current low area and start building higher weekly candles, the chart would support the case that the Wave 2 correction is ending. In that case, the next major upside phase could begin.
The risk is simple: if ETH loses the current support zone and breaks below the recent “C” wave low, the Elliott Wave count becomes weaker. That would suggest the correction is not finished yet.
For now, the chart gives a conditional bullish setup. ETH may be near the end of a long correction, but buyers still need to prove it with a strong weekly reversal.
