Ethereum’s charts tightened into key levels this week, with a weekly inverse head and shoulders setup in focus. At the same time, ETH’s 14 day RSI moved toward a historical low zone. Ethereum Weekly Chart Shows Inverse Head and Shoulders Structure Ethereum's weekly chart shows a developing inverse head and shoulders structure, based on a TradingView snapshot shared by market analyst Bitcoinsensus. The pattern forms after a long decline, with price carving a left shoulder in mid 2024, a deeper low marked as the head in early 2025, and a rebound that may be shaping a right shoulder in early 2026. Ethereum Weekly Chart. Source: Bitcoinsensus on X At the same time, price continues to test a rising neckline resistance drawn across multiple weekly highs. Earlier rallies stalled near this band, which now acts as the main level to watch. As a result, the neckline remains the key reference point for whether the structure completes. The chart also plots a projected path above the neckline, with a measured move extending toward the $7,000 area. The projection reflects the vertical distance from the head to the neckline, then mapped upward from the potential breakout zone. Meanwhile, the right shoulder remains tentative, as price still trades below the resistance band and the structure has not confirmed. James Easton Flags ETH RSI Near Historic Low Market commentator James Easton said Ethereum’s 14 day RSI is nearing a historical low, based on a TradingView chart he shared on X on Feb. 4. The chart tracks ETHUSD on a 14 day timeframe and shows RSI pressing toward the low band highlighted as a prior extreme. Ethereum U.S. Dollar 14D Chart. Source: JamesEastonUK on X Easton added that he plans to stay positioned through further downside if it happens. He also said he will remain in the trade through a potential move toward $10,000, framing the period as a defining stretch for long term holders.
