Ethereum Squeezes Near $2,000 as Long-Term Chart Points to $9K–$18K Zone

Ethereum trades near $2,000 after a sharp pullback, while longer-term chart work points to a final leg higher within a multi-year structure. Short-term price action now tightens into a triangle, setting up the next decisive move as momentum cools.

Ethereum Tracks “Expanding Diagonal” Count as $9K–$18K Zone Marks Next Target

Ethereum has continued to trace what analyst Gert van Lagen described as a “textbook Expanding Diagonal” on a biweekly chart. In a post on X, he said wave ⑤ that began in 2018 is now in its late phase, with the subwave labeled ⑤-5-a already printing an all time high.

Ethereum Biweekly Chart. Source: Gert van Lagen on X 

Van Lagen said the next leg, ⑤-5-b, extended lower after Ethereum lost a higher time frame simple moving average. He added that the decline filled a fair value gap marked between roughly $1,800 and $2,300, a zone highlighted on the chart as prior imbalance.

The analyst framed ⑤-5-c as the remaining upside push within the structure, placing a projected target zone between $9,000 and $18,000. He set invalidation at a break below the level labeled ⑤-4 on the chart, which would negate the count under his framework.

ETH Holds Sub-$2,000 Base as Short-Term Triangle Forms on Daily Chart

Ethereum traded near $1,972 on the daily ETHUSD chart as price compressed into a narrow triangle below the $2,100 area. The pattern followed a sharp drop from the low $3,000s and showed lower highs pressing down while higher lows edged up from the mid-$1,800s. The structure marked short-term indecision as price stayed capped below former support near $2,000, now acting as resistance.

Ethereum U.S. Dollar 1D Chart. Source: Rendoshi on X

On the same chart, prior swings showed a similar compression phase earlier in 2025 that resolved higher after price reclaimed nearby resistance. The current setup sits below a broader range that spans roughly $1,150 on the downside and $4,950 on the upside, levels marked as historical support and resistance on the daily view. Price remains well below the upper boundary, which has capped advances since late 2024.

Momentum on the RSI hovered in the lower band and showed a small rebound from sub-30 readings as price stabilized. The indicator reflected cooling downside pressure after the latest selloff, while price action continued to print tight candles near the triangle’s apex. The chart highlighted repeated tests of the same support zone without a clean break, keeping the short-term direction unresolved as the market waits for a decisive move.