Ethereum is at a pivotal technical moment as two major chart structures converge on higher timeframes. The cryptocurrency is currently testing a multi-year ascending trendline that has defined its macro structure for several years. The upcoming monthly close will be critical in determining whether ETH maintains this long-term uptrend or transitions into a deeper corrective phase.
If Ethereum secures a monthly close above this multi-year trendline, price could attempt a rebound toward a key historical supply zone overhead, which has often acted as resistance in past cycles. In 2022, ETH broke below this zone and extended its decline, and in 2025, a monthly close below it flipped the level into resistance. A sustained breakout would require a clear shift in momentum, especially amid broader bear market conditions.
Conversely, a monthly close below the trendline would weaken the macro structure, shifting attention to a lower support region, represented by a prior demand cluster. A confirmed loss of this macro uptrend would reduce structural support and leave Ethereum exposed to extended downside over time.
Simultaneously, Ethereum continues to trade within a giant ascending channel on the monthly timeframe, a structure that has been in place for over a year. The channel's boundaries have consistently framed major turning points, with the upper boundary aligning with local tops near $4,055 and $4,833, and the lower boundary capturing local bottoms near $1,565 and $1,894.
If this ascending channel remains intact, the next projected move would see Ethereum advance toward the upper trendline again. Based on the slope of the structure, this trajectory points toward the $6,000 area by mid-2026, outlining a continuation scenario within the broader uptrend.
In the shorter term, ETH is struggling beneath the $2,075 resistance level, testing bullish momentum. The market has rebounded sharply from winter lows but is now in a consolidation phase. Despite recent price swings, open interest has stabilized near $26 billion, signaling controlled leverage among traders.
Adding a fundamental layer to the technical picture, Ethereum co-founder Vitalik Buterin has flagged upcoming security upgrades. His quantum roadmap targets signatures, wallets, and protocol upgrades to bolster the network's long-term resilience, which could provide underlying support for the asset's valuation.
