Ethereum just bounced hard off the $1,400–$1,500 range low, a level that's been key support since mid-2022. While that bounce looks strong, let’s not ignore the macro picture.
ETH remains trapped in a multi-year range between ~$1,400 and ~$4,800. More importantly, it recently broke below the rising trendline that had been intact since the June 2022 lows. That’s a structural shift. Unless bulls reclaim $2,800–$3,000 cleanly and turn that region into support, this move is just a reaction inside a broader sideways chop.
A push above $3K could trigger momentum toward the upper range, but rejection here? That sets up another sweep of the lows. Range rules apply until proven otherwise.
ETH remains trapped in a multi-year range between ~$1,400 and ~$4,800. More importantly, it recently broke below the rising trendline that had been intact since the June 2022 lows. That’s a structural shift. Unless bulls reclaim $2,800–$3,000 cleanly and turn that region into support, this move is just a reaction inside a broader sideways chop.
A push above $3K could trigger momentum toward the upper range, but rejection here? That sets up another sweep of the lows. Range rules apply until proven otherwise.
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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.