Ethereum (ETH) is approaching a major technical inflection point on the weekly chart. The price continues to respect a long-term ascending channel that has defined its macro trend since early market cycles. ETH is now testing the upper boundary of this channel, coinciding with macro resistance around the $3,000 area.
Meanwhile, the weekly RSI is also nearing a crucial descending trendline that has historically marked momentum exhaustion. A breakout above this RSI resistance would indicate a shift in underlying market strength, and could trigger bullish continuation toward $3,500–$4,000.
However, failure to break this RSI resistance — especially combined with the current bearish divergence between price and RSI — may signal an upcoming correction or a phase of consolidation before any major breakout occurs.
🔍 Key Technical Highlights:
Price nearing upper channel resistance
Bearish divergence present on the RSI
Weekly RSI testing descending trendline
Volume profile shows thin liquidity above current levels
Conclusion:
ETH is at a decision point. A confirmed RSI breakout could validate further upside, while rejection from this level may lead to a short- to mid-term pullback. Monitor RSI closely on the weekly chart — it may dictate Ethereum's next major move.
Meanwhile, the weekly RSI is also nearing a crucial descending trendline that has historically marked momentum exhaustion. A breakout above this RSI resistance would indicate a shift in underlying market strength, and could trigger bullish continuation toward $3,500–$4,000.
However, failure to break this RSI resistance — especially combined with the current bearish divergence between price and RSI — may signal an upcoming correction or a phase of consolidation before any major breakout occurs.
🔍 Key Technical Highlights:
Price nearing upper channel resistance
Bearish divergence present on the RSI
Weekly RSI testing descending trendline
Volume profile shows thin liquidity above current levels
Conclusion:
ETH is at a decision point. A confirmed RSI breakout could validate further upside, while rejection from this level may lead to a short- to mid-term pullback. Monitor RSI closely on the weekly chart — it may dictate Ethereum's next major move.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.