$ETH Technical Outlook

Ethereum remains trapped inside a broad multi-year consolidation range after failing to sustain momentum near the upper resistance zone around $4,800. Price action is currently hovering near $2,060, reflecting continued uncertainty and a lack of clear trend direction. The chart suggests a potential retest of key support levels at $1,755 and $1,390, with a deeper decline toward the $1,040–$600 region possible if selling pressure intensifies.
Despite the short-term weakness, the long-term structure remains constructive as long as major support zones hold. A successful defense of the accumulation range could trigger a strong bullish reversal, opening the path toward $4,000+ and potentially a retest of previous cycle highs. Traders should closely monitor the highlighted support area for confirmation of either a breakdown or the beginning of the next major upward move.