Ethereum remains below the $2,400 area on the weekly chart while higher time frame analysis shows a wider bullish setup forming, according to technical analysis shared on X. ETH must clear moving average resistance before the $4,900 target comes back into focus.
Weekly Chart: ETH Range-Bound Below $2,400
Ethereum is trading inside a wider range between approximately $2,100 and $2,800 on the weekly chart, according to a TradingView chart shared by Daan Crypto Trades on X. Price has recovered from its earlier low near the $1,750 area but has not cleared the upper moving average resistance.
The weekly 200MA and weekly 200EMA sit above the current ETH price zone. These moving averages remain important because they often act as resistance when price trades below them.
ETH still holds above the lower part of the marked range. The $2,100 to $2,166 area acts as near-term support, while the $2,815 to $2,851 area marks the upper resistance zone.
For now, Ethereum remains range-bound. A move above the $2,400 area would put the weekly 200MA and 200EMA back in focus, while a drop below $2,100 would weaken the current recovery structure.
Three-Day Chart: Inverse Head-and-Shoulders Pattern Targeting $4,900
Ethereum has formed a large inverse head-and-shoulders structure on the three-day chart, according to a TradingView chart shared by Ray on X.
The chart shows ETH building a long-term base above an ascending support trendline. The left shoulder formed after the 2025 pullback, while the head formed near the lower support area in early 2026. ETH has since recovered and moved into the right shoulder area.
The main target on the chart sits near $4,900, which aligns with a horizontal resistance area from Ethereum’s previous cycle highs.
However, ETH still needs to continue higher and challenge the upper resistance zone before the setup can fully confirm. A rejection before that area would keep the pattern incomplete.
The chart shows Ethereum holding its broader recovery structure. The key focus remains whether buyers can push ETH toward the $4,900 resistance level.
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