Ethereum Price Analysis Shows a Fight for $2,439
On the weekly chart, ETH remains in a broader downtrend. Each major peak since the $4,958 all-time high has come in lower.
The price topped near $3,400 at the turn of the year and near $2,800 in late September. The 0.5 Fibonacci retracement at $2,920 flipped from support in 2024 to resistance in 2026.
Lows have also fallen, from roughly $1,750 in February to about $1,520 in mid-2026. However, the local structure has improved since then.
ETH weekly chart / Source: Tradingview
The September high exceeded the spring high near $2,470, forming a higher high. A higher low at current levels would complete a local uptrend and could signal a reversal.
The weekly Relative Strength Index (RSI) sits near 50, which is neutral. It remains below its signal line, so momentum has not confirmed a turn yet.
Volume has contracted since February, pointing to consolidation rather than accumulation. The 0.786 Fibonacci level at $1,754 remains the strongest support, tested at least four times since 2023.
Daily Chart Shows a Bounce Inside a Rising Wedge
The daily chart shows ETH rebounding from a rising trend line near $2,200. That line has guided price higher since the late-June low.
The latest daily candle pushed above the Bollinger Bands midline and is testing the 0.618 retracement at $2,439. Daily RSI has also crossed above its signal line.
However, the Bollinger Bands are narrowing. A squeeze often precedes a sharp move, but it does not reveal the direction.
ETH daily chart / Source: Tradingview
Volume has trended lower since August, so the breakout attempt lacks confirmation. In addition, the two trend lines converge, forming a rising wedge that often resolves to the downside.
The upper wedge line meets the 0.5 Fibonacci level near $2,920 to $2,950. That creates a strong resistance cluster above the price.
$ETH
On the weekly chart, ETH remains in a broader downtrend. Each major peak since the $4,958 all-time high has come in lower.
The price topped near $3,400 at the turn of the year and near $2,800 in late September. The 0.5 Fibonacci retracement at $2,920 flipped from support in 2024 to resistance in 2026.
Lows have also fallen, from roughly $1,750 in February to about $1,520 in mid-2026. However, the local structure has improved since then.
ETH weekly chart / Source: Tradingview
The September high exceeded the spring high near $2,470, forming a higher high. A higher low at current levels would complete a local uptrend and could signal a reversal.
The weekly Relative Strength Index (RSI) sits near 50, which is neutral. It remains below its signal line, so momentum has not confirmed a turn yet.
Volume has contracted since February, pointing to consolidation rather than accumulation. The 0.786 Fibonacci level at $1,754 remains the strongest support, tested at least four times since 2023.
Daily Chart Shows a Bounce Inside a Rising Wedge
The daily chart shows ETH rebounding from a rising trend line near $2,200. That line has guided price higher since the late-June low.
The latest daily candle pushed above the Bollinger Bands midline and is testing the 0.618 retracement at $2,439. Daily RSI has also crossed above its signal line.
However, the Bollinger Bands are narrowing. A squeeze often precedes a sharp move, but it does not reveal the direction.
ETH daily chart / Source: Tradingview
Volume has trended lower since August, so the breakout attempt lacks confirmation. In addition, the two trend lines converge, forming a rising wedge that often resolves to the downside.
The upper wedge line meets the 0.5 Fibonacci level near $2,920 to $2,950. That creates a strong resistance cluster above the price.
$ETH