Ethereum’s Multi-Year Support Test Could Shape Its Next Big Move
Ethereum is at a key technical inflection point. After falling below $2,000, it is testing a multi-year ascending trendline that has acted as major support. Holding this level while also breaking above the nearby descending trendline would be a strong bullish signal and could open the door to a larger rally. If the support fails, the next major move may be delayed. Short-term momentum also looks improved. Ethereum has reclaimed its 4-hour 200 MA and 200 EMA for the first time since April, suggesting a possible shift away from the recent downtrend. It has also shown relative strength versus Bitcoin, which adds to the recovery case. If ETH can stay above these moving averages, it may support further gains across Ethereum-linked assets, especially if capital continues rotating away from Bitcoin.
