coinpaper.com
Ethereum is testing a key support area on both its USD and Bitcoin charts, with traders watching whether buyers can defend the current range. $ETH sits near the bottom of a descending 4-hour channel, while the $ETH/$BTC ratio holds close to a major weekly Fibonacci level.
Ethereum Price Faces Key Test as $ETH Returns to Channel Support
Ethereum returned to the lower boundary of a descending 4-hour channel, putting the $2,180 to $2,230 area in focus as traders watch for a possible rebound.
The chart shared by Ali Charts on X shows $ETH trading near $2,191 after a sharp move lower inside the channel. The price now sits close to the lower trendline, which has acted as support during earlier pullbacks.
Ethereum 4-Hour Price Channel Chart. Source: Ali Charts on X
$ETH has traded inside a downward-sloping channel since late April, according to the chart. The structure shows lower highs and lower lows, which means sellers have controlled the broader 4-hour trend.
The latest move pushed Ethereum toward the channel bottom near $2,180. This area now acts as the nearest support zone. If buyers defend it, $ETH could move toward the mid-range at $2,280.
Ali Charts said he is watching for a spike in buying pressure at the bottom of the channel. He said that reaction could send $ETH toward $2,280 or even the top of the channel near $2,390.
The $2,330 level also stands as an important resistance zone before the upper boundary. $ETH previously struggled near that area, so it could limit a short-term recovery.
For now, Ethereum remains inside the descending channel. Support sits near $2,180, while resistance levels appear near $2,280, $2,330, and $2,390. A break below the lower trendline would weaken the setup and shift focus to a deeper downside move.
Ethereum Bitcoin Ratio Holds Key Fib Level as $ETH Outperformance Setup Builds
Meanwhile, Ethereum’s ratio against Bitcoin is holding near a key weekly support area, keeping a possible $ETH outperformance setup in focus.
The $ETH/$BTC weekly chart shared by Sky on X shows the pair trading near 0.02817 $BTC after a pullback from its August high. The ratio remains close to the 0.5 Fibonacci level at 0.02781, while price also holds inside the Gaussian Channel.
Ethereum Bitcoin Weekly Chart. Source: Sky on X
$ETH/$BTC rallied sharply from the 2025 low near 0.01777 to a local high around 0.03929. Since then, the pair has retraced into the middle of the Fibonacci range.
The 0.5 Fib level now acts as the main support area. A hold above this zone would keep the broader recovery structure active and give Ethereum room to regain strength against Bitcoin.
The chart also shows $ETH/$BTC trading near the lower part of the Gaussian Channel. Sky said $ETH is still holding both the channel and the 0.5 Fib level, which could support a future move higher.
If buyers defend the current range, $ETH/$BTC could first target the 0.618 Fib level near 0.03091. A stronger move could then bring the 0.786 level near 0.03593 and the 0.886 level near 0.03929 back into focus.
The chart also marks a higher target zone between 0.06303 and 0.07566. That area sits near the 1.414 and 1.618 Fibonacci extensions, showing where $ETH/$BTC could move if the pair breaks above the prior high and extends the recovery.
For now, the setup depends on the 0.02781 support area. A weekly close below that level would weaken the bullish structure. A rebound from the same zone would keep the $ETH outperformance argument alive.