Ethereum is approaching a decisive moment on the higher timeframes as two major technical structures converge. A multi year trendline test and a giant ascending channel now frame the next macro move. Ethereum Tests Multi Year Trendline as Monthly Close Nears Ethereum is trading at a multi year ascending trendline that has shaped its macro structure for several years. On the monthly chart, ETH USD sits directly on this green uptrend support, placing the upcoming monthly close at a critical technical juncture. ETH/USD Monthly — multi-year trendline and key zones. Source: rektcapital If Ethereum secures a monthly close above the multi year trendline, price could attempt a rebound toward the green horizontal region overhead. That area marks historical supply and previously acted as a key structural level. However, past cycles show that this region has often capped upside. In 2022, Ethereum broke below the green region and extended its decline. Later, in 2025, price monthly closed below the same zone, flipped it into resistance, and continued lower. As a result, the level remains structurally significant. Unless Ethereum reclaims it with a decisive monthly close and converts it into support, it continues to function as a likely resistance area. Meanwhile, broader bear market conditions add pressure to the setup. A sustained breakout would require a clear shift in momentum. Without that, rallies into the green region could face supply. On the downside, a monthly close below the multi year trendline would weaken the macro structure. In that case, attention would shift to the orange horizontal region below, which represents a prior demand cluster. Ethereum has already wicked into that zone, yet it has not completed a clean retest on a monthly basis. If the trendline fails, price could revisit the orange region more decisively. Furthermore, a confirmed loss of the macro uptrend would reduce structural support and leave Ethereum more exposed to extended downside over time. The monthly close will determine whether Ethereum maintains its long term uptrend or transitions into a deeper corrective phase. Ethereum Trades Inside Giant Ascending Channel as $6,000 Target Aligns Ethereum has continued to trend within a large ascending channel on the monthly timeframe, according to chart analysis shared by Trader Tardigrade. The structure has been in place for more than a year and has consistently framed major turning points in price action. ETH — Giant Channel (Weekly Index): Source: Trader Tardigrade (@TATrader_Alan) The upper boundary of the channel previously aligned with local tops near 4,055 and 4,833, while the lower boundary captured local bottoms near 1,565 and 1,894. Each reaction at these levels reinforced the validity of the channel, as price moved from resistance to support in a repeating pattern. If the ascending channel remains intact, the next projected move would see Ethereum advance toward the upper trendline again. Based on the slope of the structure, that trajectory points toward the 6,000 area by mid 2026. The analysis outlines a continuation scenario rather than a breakout. As long as price respects both channel boundaries, the structure suggests cyclical movement between support and resistance within the broader uptrend.
