Ethereum Holds Trendline as Analyst Sets $1,800 Condition to Avoid $1,200

Ethereum is holding a long-term rising trendline on the weekly chart while testing resistance near $1,800. Analyst Abundance | Capital Rotation states that ETH needs to close weekly candles above $1,800 to reduce the risk of a move toward $1,200. The current price action occurs within a multi-year triangle structure, with the lower trendline acting as support during major pullbacks and upper resistance capping recovery attempts near the $1,800-$2,000 area.

Ethereum Holds Multi-Year Triangle Trendline

Ethereum is trading inside a large triangle structure that has been forming for several years, according to a chart shared by analyst The Great Mattsby. The lower trendline has acted as support during major pullbacks, while the upper trendline has capped several recovery attempts. ETH is currently testing the lower side of the structure again.

The chart shows price squeezed between major support and descending resistance. If ETH holds this trendline, the next key test would be the upper resistance line, which sits near the $1,800-$2,000 area on the chart. A breakdown below the rising support line would weaken the pattern and suggest ETH is losing one of its main long-term support structures.

Analyst Sets $1,800 Weekly Close Condition to Avoid $1,200 Scenario

Ethereum is pushing into a key resistance area, but analyst Abundance | Capital Rotation states the bigger trend stays at risk unless ETH starts closing weekly candles above $1,800. Without that reclaim, the chart still leaves room for a deeper move toward $1,200.

The chart shows ETH moving higher after holding support near the mid-$1,500 range, but price is now approaching a resistance zone around $1,771-$1,794. That area sits just below the $1,800 level. A weekly close above $1,800 would be the first stronger sign that buyers are taking control again.

The chart also highlights nearby support around $1,631 and $1,583. If ETH rejects from resistance, those levels could become the first areas to watch before any deeper move develops. The analyst pointed to time cycles, saying they still show a clear rhythm in market flows.

FAQ

What price level does Ethereum need to close above on the weekly chart? Analyst Abundance | Capital Rotation states that ETH needs to close weekly candles above $1,800 to reduce the risk of a move toward $1,200.

What technical structure is Ethereum currently trading within? Ethereum is trading inside a multi-year triangle structure, with the lower trendline acting as support during major pullbacks and the upper trendline capping recovery attempts near the $1,800-$2,000 area, according to analyst The Great Mattsby.

What are the key support levels if Ethereum rejects from current resistance? The chart highlights nearby support levels at $1,631, $1,583, and the mid-$1,500 range.