Ethereum is still holding its long term support structure, even as price remains far below its old high zone near $4,800 to $5,000. The charts show that $ETH needs a weekly breakout first, but the macro setup has not turned into a full bearish breakdown yet.
Ethereum Holds Rising Support as Chart Points to $10K Target
Ethereum is trading near a long-term rising support line on the weekly chart, while the setup shared by Rendoshi AI points to a possible recovery path toward the previous resistance area and then higher levels.
The chart shows $ETH still holding above the major ascending trendline that started after the 2022 bottom. This support has helped price form higher long-term lows, so losing it would weaken the broader structure.
$ETH Weekly Trendline Chart. Source: Rendoshi AI on X
The first key test is the short descending trendline above the current price. $ETH needs to break that line to show that selling pressure is slowing. Without that breakout, the bounce remains early and unconfirmed.
The next major resistance sits around the $4,800 to $5,000 zone. That area rejected $ETH several times before, so a move back there would be the first serious test for bulls.
The green roadmap shows a possible breakout above that range, a retest, and then a larger move toward $10,000. However, that target only becomes realistic if $ETH first reclaims the $4,800 zone with strong weekly candles.
The RSI is still below the midline area, which means momentum has not fully turned bullish yet. A stronger RSI recovery would support the breakout idea.
If $ETH loses the rising support line, the bullish roadmap weakens. In that case, lower support near the previous weekly demand zone would become the next area to watch.
Ethereum Macro Chart Shows $ETH Still Far Above 2020 Lows
Ethereum’s weekly chart is being used to show the broader trend, not a short-term breakout setup. The chart shared by The Great Mattsby compares today’s $ETH structure with the 2020 area, when price traded below $100 before the later multi-year rally.
The main point is perspective. $ETH looks weak compared with the $4,000 to $5,000 range from previous cycle highs, but it still sits far above the 2020 low area. That keeps the macro chart structurally different from a full bearish reset.
$ETH Weekly Macro Chart. Source: The Great Mattsby on X
The chart also shows $ETH moving sideways after several large rallies and pullbacks. This type of wide range has appeared before during long consolidation periods, especially after strong upside moves.
However, $ETH still needs a clear weekly breakout to confirm strength. The major resistance remains near the old high zone around $4,800 to $5,000. Until price reclaims that area, the chart shows long-term potential but not confirmed expansion.
If $ETH loses the current range and breaks lower, the macro structure would weaken. For now, the chart argues that $ETH remains inside a large long-term range rather than a completed bearish breakdown.
