Ethereum's Price Action at Crucial Juncture with Short-Term Targets

Ethereum's price has been fluctuating near the lower boundary of an ascending channel on the 3-hour chart, a key technical indicator that could determine its short-term direction. According to a setup shared by user Elja on TradingView, Ethereum is currently testing the structure, which has guided price higher since late March.

Elja's chart shows a rising channel with clear touches on both the upper and lower boundaries, indicating an orderly uptrend. However, if Ethereum breaks below the lower trendline, it could open the way for a deeper drop toward lower support levels, potentially breaking down the channel's influence over the price action.

In the long-term perspective, Ethereum is seen holding onto a key support zone between $1,300 and $1,800 on the 2-week chart shared by user Crypto Patel. This setup outlines a multi-year structure with rising support, repeated tests of major resistance near the $4,700 area, and a projection window stretching into 2028 and 2029.

Crypto Patel's roadmap maps out several possible long-range targets, including $5,000 as an ultra-bear case, $7,000 as a bear case, $10,000 as a base case, $20,000 as a bull case, and $30,000 to $40,000 as an ultra-bull outcome. These scenario targets depend on Ethereum keeping its higher-time frame structure intact.