Ethereum is holding firm above the key $1,850 support level while maintaining a local pattern of higher highs and higher lows. A confirmed breakout above $1,950 could open the path toward $2,060, $2,150, and eventually $2,350. The support test is unfolding within a broader multi-month trading range that has contained ETH between approximately $1,700 and $2,400, making reactions at these boundaries a focal point for traders.

Ethereum Rebounds From $1,850 Support as $2,060 Target Returns

Ethereum has bounced from the lower boundary of its ascending channel, keeping its short-term bullish structure intact. Analyst Ali Martinez said on X that ETH could revisit the channel's upper boundary near $2,060 as long as support around $1,850 continues to hold.

ETH one-hour chart. Source: Ali Martinez/TradingView

The chart shows Ethereum recovering toward $1,886 after briefly testing the lower trendline. Previous reactions from this boundary produced moves toward the middle and upper sections of the rising channel.

The first resistance sits near $1,980, where price previously struggled to maintain momentum. A confirmed break above that level could strengthen the rebound and open the path toward $2,060.

However, the setup depends on ETH defending $1,850. A decisive break below that support would invalidate the immediate channel rebound and increase the risk of a deeper short-term correction.

For now, Ethereum remains inside its rising structure. Holding $1,850 keeps the $1,980 and $2,060 targets active, while losing the level would shift momentum back toward sellers.

Ethereum Holds $1,850 Support as Bulls Target $2,150

Ethereum continues to form higher highs and higher lows despite a choppy recovery, keeping its short-term bullish structure intact. Analyst Daan Crypto Trades said on X that a break above the $1,950 local high could open the path toward $2,150 and eventually $2,350.

ETH daily chart. Source: Daan Crypto Trades/TradingView

The chart shows ETH pulling back after reaching resistance near $1,958. Price remains around the $1,850 area, which now serves as the main level buyers must defend to preserve the recovery.

A confirmed daily break above $1,950 would signal renewed momentum. The next resistance zone sits around $2,150 to $2,190, where Ethereum's 200-day moving average and exponential moving average could limit further gains. The 200-day moving average is one of the most widely monitored trend indicators across crypto markets, and approaches to this level often draw heightened attention from both retail and institutional participants.

Clearing those indicators could shift attention toward $2,350 and the broader range high near $2,391. However, ETH would need stronger buying volume to complete that move. U.S. spot Ethereum ETFs, which launched in mid-2024, provide an additional channel for institutional capital flows that can influence demand around key technical levels.

Meanwhile, losing $1,850 would weaken the current sequence of higher lows. The first downside level would sit near $1,788, followed by the major range support around $1,736.

For now, Ethereum remains constructive above $1,850. A breakout above $1,950 would strengthen the bullish case, while a breakdown below support could return ETH to its previous trading range.