Ethereum is testing a key support area on both its USD and Bitcoin charts, with traders watching whether buyers can defend the current range. ETH sits near the bottom of a descending 4-hour channel, while the ETH/BTC ratio holds close to a major weekly Fibonacci level. Ethereum Price Faces Key Test as ETH Returns to Channel Support Ethereum returned to the lower boundary of a descending 4-hour channel, putting the $2,180 to $2,230 area in focus as traders watch for a possible rebound. The chart shared by Ali Charts on X shows ETH trading near $2,191 after a sharp move lower inside the channel. The price now sits close to the lower trendline, which has acted as support during earlier pullbacks. Ethereum 4-Hour Price Channel Chart. Source: Ali Charts on X ETH has traded inside a downward-sloping channel since late April, according to the chart. The structure shows lower highs and lower lows, which means sellers have controlled the broader 4-hour trend. The latest move pushed Ethereum toward the channel bottom near $2,180. This area now acts as the nearest support zone. If buyers defend it, ETH could move toward the mid-range at $2,280. Ali Charts said he is watching for a spike in buying pressure at the bottom of the channel. He said that reaction could send ETH toward $2,280 or even the top of the channel near $2,390. The $2,330 level also stands as an important resistance zone before the upper boundary. ETH previously struggled near that area, so it could limit a short-term recovery. For now, Ethereum remains inside the descending channel. Support sits near $2,180, while resistance levels appear near $2,280, $2,330, and $2,390. A break below the lower trendline would weaken the setup and shift focus to a deeper downside move. Ethereum Bitcoin Ratio Holds Key Fib Level as ETH Outperformance Setup Builds Meanwhile, Ethereum’s ratio against Bitcoin is holding near a key weekly support area, keeping a possible ETH outperformance setup in focus. The ETH/BTC weekly chart shared by Sky on X shows the pair trading near 0.02817 BTC after a pullback from its August high. The ratio remains close to the 0.5 Fibonacci level at 0.02781, while price also holds inside the Gaussian Channel. Ethereum Bitcoin Weekly Chart. Source: Sky on X ETH/BTC rallied sharply from the 2025 low near 0.01777 to a local high around 0.03929. Since then, the pair has retraced into the middle of the Fibonacci range. The 0.5 Fib level now acts as the main support area. A hold above this zone would keep the broader recovery structure active and give Ethereum room to regain strength against Bitcoin. The chart also shows ETH/BTC trading near the lower part of the Gaussian Channel. Sky said ETH is still holding both the channel and the 0.5 Fib level, which could support a future move higher. If buyers defend the current range, ETH/BTC could first target the 0.618 Fib level near 0.03091. A stronger move could then bring the 0.786 level near 0.03593 and the 0.886 level near 0.03929 back into focus. The chart also marks a higher target zone between 0.06303 and 0.07566. That area sits near the 1.414 and 1.618 Fibonacci extensions, showing where ETH/BTC could move if the pair breaks above the prior high and extends the recovery. For now, the setup depends on the 0.02781 support area. A weekly close below that level would weaken the bullish structure. A rebound from the same zone would keep the ETH outperformance argument alive.
