Ethereum is retesting a key breakout level after failing to hold its first move higher. A rebound could keep the long-term path toward $10,000-$12,000 alive, while losing support may send $ETH back toward $1,700 or lower.
Ethereum Retests Cup-and-Handle Breakout as Fakeout Risk Returns
Ethereum has pulled back to the neckline of a cup-and-handle pattern after briefly rallying above it. Holding this area could keep the bullish setup alive, while another breakdown may repeat the failed breakout that preceded a much larger decline.
$ETH four-hour chart. Source: Rod/X
The neckline sits around $1,825-$1,850, where $ETH faced resistance several times before breaking higher. Price later climbed toward $1,930 but failed to maintain momentum and has now returned to test the breakout zone.
A strong rebound from the neckline would suggest former resistance has become support. That could bring $1,900-$1,950 back into focus, followed by the psychological $2,000 level if buyers maintain control.
However, a clean break below $1,825 would weaken the cup-and-handle structure and turn the latest move into a possible fakeout. In that case, $ETH could revisit $1,775 first, with deeper support near $1,700.
Ethereum’s Long-Term Channel Keeps $10,000-$12,000 Target Alive
Ethereum is holding near the lower boundary of a multi-year ascending channel after defending the $1,537-$1,683 weekly demand zone. A sustained recovery could reopen the path toward the channel’s upper boundary near $10,000-$12,000, although several major resistance levels remain first.
$ETH weekly chart. Source: Centurion/X
The chart shows $ETH briefly moving below its long-term trendline before recovering and printing a bullish weekly candle. That move may have been a false breakdown, but buyers still need to reclaim the nearby point of control and hold above it to confirm stronger demand.
The first important step is maintaining support around $1,700-$1,800. From there, $ETH would need to recover the high-volume area above $2,000 before challenging the larger resistance zone around $3,000-$3,400.
A stronger breakout could bring the previous highs near $4,800 back into focus. Continued momentum would then expose resistance around $6,400, followed by the projected $10,000-$12,000 upper-channel region.
However, another loss of the $1,537-$1,683 order block would weaken the recovery. $ETH could then sweep lower liquidity near $1,200 before attempting another reversal, meaning the five-figure target remains a long-term scenario rather than a confirmed move.