Trendline Tests Meet Corrective Bounce

Ethereum’s higher time frame charts now show two competing reads of the same move. One view tracks repeat rebounds from long term support, while another says the latest bounce still lacks structural confirmation.

Ethereum weekly chart maps past 200% rebounds from trendline as price retests long-term support

Donald Dean said Ethereum’s recent structure fits a broader “bottoming process,” noting that prior runs lifted more than 200% from a rising trendline. His post points to two past advance phases on the weekly ETHUSD chart, each measured from a long-term ascending support line to the cycle highs. In both cases, price respected that trendline before launching higher, which frames the current pullback as another test of the same structural level.

Ethereum Weekly Chart. Source: donaldjdean on X

On the weekly chart, Ethereum has again revisited the rising trendline after rolling over from the latest cycle peak. The chart also marks a horizontal support band around the $2,000 area, where price previously paused and rebounded. Because that zone aligns with the trendline touch, it forms a confluence area that has mattered during prior resets within the broader uptrend.

The volume profile on the right highlights nearby shelves beneath current price, which show where trading previously concentrated. Those shelves often act as reaction zones when price trades into them. Therefore, the setup centers on whether Ethereum stabilizes around the trendline and nearby support band, similar to prior cycles, or whether price pushes through that area and shifts the longer-term structure.

More Crypto Online says ETH bounce stays corrective as chart holds a critical decision zone

More Crypto Online said Ethereum sits in a technically critical area after a liquidation driven flush. That makes the setup important to watch. However, the post does not treat it as bullish by default, because the rebound that followed still looks corrective rather than impulsive.

Ethereum Technical Structure Chart. Source: More Crypto Online on X

The analyst said the bounce has not shown clear strength or a structural shift. In that view, Ethereum has not produced evidence of a durable bottom yet. The chart framing keeps the focus on market structure, not on a single green candle.

More Crypto Online also highlighted relative weakness versus Bitcoin. They said ETH typically leads during strong phases. Instead, ETH has lagged while the ETHBTC pair trends lower, which supports the underperformance argument.

Even if Ethereum rallies further, the analyst said the first assumption remains a B wave. They described B waves as tricky because they can look convincing and then fully retrace before the prior move resumes. Therefore, the post treats upside as potentially deceptive until structure confirms a real change.

To flip the view, More Crypto Online said Ethereum needs a clean five wave advance, or at least a decisive break above the weekend high. Until that happens, the downside path remains the higher probability scenario in their framework, and they said they are watching the micro structure closely.