Technical analysis ETHUSD — Timeframe 1W (Weekly)

From your chart, Ethereum is in a more fragile situation than Bitcoin in the short term, but the weekly structure remains generally constructive.

Current structure

📈 Swing: Bullish

The underlying trend remains upward.

ETH is still above its major weekly support.

However, the indicator shows:

Swing: Bullish

Internal: Bearish

4H and 1D: Bearish

15m and 1H: Bullish

➡️ This indicates a short-term rebound within a medium-term correction.

Key levels

🟢 Major support

$1,500 – $1,650 (currently tested zone)

$1,000 – $1,200 (strong weekly demand zone)

$800 – $900 (Strong Low on your chart)

🔴 Resistance levels

$2,200 – $2,500

$3,000 – $3,300

$4,800 – $5,000 (former major peak)

Chart interpretation

The price is currently near the Fibonacci 0.786 level, often considered an important reversal zone.

Two scenarios emerge:

Bullish scenario (preferred)

✅ Staying above $1,500

Targets:

1. $2,200

2. $2,500

3. $3,300

4. $4,800 – $5,000

This is also the scenario outlined by the arrows on your chart.

Bearish scenario

❌ Clear break below $1,500

In this case:

Likely return to around $1,200

Then possibly the large demand zone around $1,000

What I will monitor

Weekly close above $1,700

Rebound to $2,000 with volume

BTC reaction: ETH generally follows Bitcoin’s direction on higher timeframes.

Conclusion

ETH is currently in a significant accumulation/reaction zone. As long as $1,500 holds, the probability of a move toward $2,500 then $3,300 remains favorable. A break below this zone would temporarily invalidate the bullish scenario and open the way back to $1,000 – $1,200.

For a long-term investor, the current zone is more of an accumulation area than a profit-taking zone, but a bullish confirmation above $2,000 would strongly reinforce the signal.