Ethereum is showing its first real signs of strength after holding a long-term support trendline and breaking above key short-term resistance. If ETH stays above the breakout zone, analysts say the move could start with $1,776-$2,045 and build toward a much larger cycle target.
Ethereum Chart Signals Possible Bottom as $12K Target Comes Into View
Ethereum is trading near $1,620 as one analyst says ETH may be sitting at another major bottoming area, based on a long-term rising support trendline that has held in previous cycles.
ETH/USD weekly chart. Source: Investor Jordan on X, TradingView.
The chart shows ETH repeatedly finding support along a rising trendline that connects several major lows from 2022 through 2026. Each of those points is marked as a bottom, suggesting the current area could once again be a major reaction zone.
According to Investor Jordan, this setup represents a “generational opportunity” if the pattern continues to hold. The chart projects a recovery from current levels, followed by a push back toward the major horizontal resistance near $4,983.
If ETH breaks above that level, the chart suggests the next leg higher could extend much further. The projected path points toward the $12,000 area over the longer term.
However, the bullish case still depends on support holding. If Ethereum loses the rising trendline, the bottoming pattern would weaken and the higher-target scenario would become less reliable.
For now, the key level to watch is the current trendline support near the recent lows. If buyers defend it again, the chart suggests Ethereum could be trying to build the base for a much larger move higher.
Ethereum Breakout Above Key 4-Hour Resistance Boosts July Bullish Case
Ethereum has pushed above a cluster of short-term resistance levels on the 4-hour chart, giving bulls a more constructive setup heading into July.
ETH/USD 4-hour chart. Source: Chris on X, TradingView.
The chart shows ETH breaking above a descending trendline, the daily cloud and the 0.5 Fibonacci level near $1,643. Taken together, those levels formed a key confluence zone, so the breakout suggests momentum may be shifting back in buyers’ favor.
Chris said the move stands out at a time when sentiment around Ethereum remains weak. In his view, the chart looks stronger than many broken technology names and points to improving short-term structure across crypto.
The next upside levels on the chart sit near the 1.0 Fibonacci extension around $1,776, followed by the 1.618 level near $1,943 and the 2.0 level near $2,045. Those areas could become the next resistance zones if Ethereum continues higher.
The RSI at the bottom of the chart is also trending up, which supports the bullish short-term read. That does not remove the risk of a later reversal, but it does show improving momentum for now.
Chris added that a rollover later into October remains possible and is still part of his broader base case. Even so, based on the current 4-hour setup, he said it is difficult to call Ethereum bearish here.
For now, the breakout above the confluence zone is the main development to watch. If ETH holds above that area, the chart suggests July could begin with stronger upside momentum.
