Ethereum is bouncing from the 0.5 Fibonacci level and the lower line of its rising channel, keeping the $2,561 target in focus. However, the larger setup still depends on $ETH holding $1,750, breaking its descending trendline, and reclaiming higher resistance before any $10,000 move gains strength.
Ethereum Price Bounces From 0.5 Fib as $2,561 Target Comes Into Focus
Ethereum is bouncing from the 0.5 Fibonacci level near $2,088 on the daily chart shared by Sky on X, keeping the short-term recovery setup active.
The $ETH/USD chart shows price trading near $2,138 after reacting from the lower trendline of an ascending channel. This area also matches the 0.5 Fib level, which makes it an important support zone.
$ETH/USD Daily Channel Chart․ Source: Sky on X
The structure looks like a rising channel, or possible bull flag, after Ethereum’s sharp February drop and later recovery. $ETH has now tested the lower boundary of that channel and held it.
If buyers continue defending this zone, the next major level is $2,561, which marks the 0.618 Fibonacci level. Sky also highlighted this area as the next important target.
However, Ethereum still needs follow-through. A bounce from support is useful, but $ETH must move back above the recent range near $2,280-$2,360 to confirm stronger momentum.
A daily close below the lower channel and the $2,088 Fib level would weaken the setup. It would show that the bounce failed and could bring lower support back into focus.
For now, Ethereum is holding the key support area. The chart keeps the $2,561 target active as long as $ETH stays above the 0.5 Fib level and the lower channel line.
Ethereum Chart Shows $1,750 as Key Support Before $10K Target
Ethereum is holding above a major support zone on the 3-day Binance chart shared by Crypto Patel on X, while the analyst points to a possible move toward $10,000 before 2027.
The $ETH/$USDT chart compares the current setup with Ethereum’s 2023 structure. In both cases, $ETH moved through a long corrective phase, tested support, and then formed a recovery path from a lower range.
$ETH/$USDT 3-Day Price Chart. Source: Crypto Patel on X
The 2026 chart marks $1,750 as the key level Ethereum must hold to keep the uptrend structure alive. This area sits above a stronger accumulation zone near $1,380-$1,540, which the chart labels as major support if $ETH breaks lower.
Ethereum is now trading near $2,129, below the descending trendline that has capped the recent recovery. $ETH needs to break that trendline first to show stronger upside momentum.
The chart also marks a fair value gap near $2,400-$2,700. That zone could become the next upside area if buyers push $ETH above the trendline.
Higher up, the chart shows the former support zone near $3,300-$3,500 has turned into resistance. $ETH would need to reclaim that area before the larger bullish target becomes more realistic.
For now, the $10,000 target remains a long-term projection, not a confirmed move. Ethereum must hold $1,750, break the descending trendline, and reclaim higher resistance zones first.
