- Ethereum surges past $1,800, forming a bullish cup-and-handle pattern while reclaiming key support in a long-term pitchfork channel.
- Ethereum bounces from the base of a multi-year trend channel, indicating low downside risk and strong potential for extended upside.
- With exponential growth intact and market sentiment turning bullish, Ethereum could be entering a fresh upward cycle supported by technicals.
As per Watcher Guru, Ethereum reclaimed the $1,800 level, signaling a major shift in market sentiment. The leading altcoin recently traded at $1,803.96, climbing sharply from its previous lows. This breakout confirms strong bullish momentum following a period of consolidation. Prices earlier hovered between $1,690 and $1,700, suggesting a tightening range. However, Ethereum burst out of that zone, rallying nearly 7.5% from the bottom.
There is a clear cup-and-handle formation. This technical pattern often precedes extended bullish moves. The price action further supports a continuation of this upward trend. Besides, several green candles have appeared in recent hours. This confirms a surge in buying pressure. Traders are now eyeing further gains with renewed confidence.
Ethereum Eyes Long-Term Channel Rebound
On a larger scale, Ethereum appears to be sitting at a pivotal technical level. A high-timeframe pitchfork chart from 2017 to 2025 reveals Ethereum at the bottom of a multi-year trend channel. The price sits just above the lower green boundary, trading at $1,787.37.
Moreover, this boundary aligns with the base of a well-respected logarithmic channel. This multi-year framework includes blue outer boundaries and a central red trendline. Historically, Ethereum has respected this structure across multiple bull and bear cycles. These include the 2017-2018 surge and the 2020-2021 boom.
Hence, current price action suggests a potential rebound is underway. The risk-to-reward setup now strongly favors buyers. The downside remains limited, while the upside stretches significantly beyond previous highs.
Exponential Growth Resumes
The long-term data reveals Ethereum’s consistent exponential growth. Price levels have ranged from under $1 to recent highs above $1,800. Despite multiple drawdowns, the trend remains intact. Additionally, Ethereum is bouncing off key support levels. This could trigger a fresh bullish cycle. Consequently, Ethereum’s current move may be the start of another leg upward.
