Ethereum (ETH) Stuck in a Mess? Key Levels to Watch This Cycle

He mentioned that ETH has been doing well since July 2025, but he is waiting to see how it will follow through in the next few weeks. The above moving average may offer Ethereum an improved opportunity to outperform Bitcoin in the case of larger market conditions.

Short-Term Support Around $3,000

ETH is trading over the $3,000 mark, which is now a significant support area in the immediate term. Analyst Ted posted that Ethereum has, momentarily, dropped to below $3,050 but has rapidly improved. He observed that when ETH remains above $3,000, it could go to $3,300-3,400. If $3,000 fails, however, he cautioned that it could slip below $2,800.

This view follows recent weekend price action, where Ethereum stayed relatively firm despite Bitcoins weakness. As reported, a pattern resembling previous fractals suggests ETH could revisit levels near $2,500 if selling returns.

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Looking beyond the short-term chop, Merlijn The Trader published a long-range chart of ETH showing a possible wave structure forming within an upward channel. His analysis suggests Ethereum has completed Wave 2 and may now be building toward Wave 3 — historically a strong breakout phase. He identified prior support zones between $2,200 and $2,800, which have held so far.

He remarked,

“$ETH is entering vertical mode. You either catch it… or chase it.”

The projection places future price targets above $7,800 if momentum continues along the established trend.