Ethereum is currently trading at a critical technical level known as the bull market support band, according to a chart shared by crypto analyst CryptoGoos.
Ethereum is now at the bull market support band.
Somewhere in this band the local bottom will happen.
After that, $3,000 is next. pic.twitter.com/y2fFBJxGKa
— CryptoGoos (@cryptogoos) October 26, 2026
The daily chart of ETH/USDT on Binance when broken down, displays price action pressing into the upper edge of this support zone, which spans approximately $2,165 to $2,321. An arrow on the chart highlights the current test of this area after a recent pullback.
The analyst further observed that ETH has reached this band and suggested a local bottom is likely to form somewhere within it. Once that support holds, the analyst anticipates the next upside target at $3,000.
The chart reflects a broader recovery from lower levels earlier in the year, followed by a sharp rally and subsequent consolidation. Price has since retraced toward the rising support band, which has acted as a dynamic floor during previous phases of the market cycle.
At the time of the analysis, Ethereum’s ETH was showing a modest daily decline amid ongoing volatility. Traders are watching closely to see whether the band provides the anticipated support or if further downside develops.
Key barriers still lies ahead for ETH
Meanwhile, analyst Ted offered a more cautious perspective based on the weekly chart. He pointed out that Ethereum closed another weekly candle below the $2,400 level and is now trading under $2,350.
Per his assertion, this leaves the market at an important short-term inflection point. Should Ethereum fail to reclaim $2,350 in the coming sessions, Ted suggested a further decline toward the $2,200 area could unfold next.
His chart marks $2,350 as the first key support, with additional resistance zones noted higher up around $2,800 and beyond. The analysis underscores the importance of a quick recovery above the recent weekly close to avoid deeper downside pressure.
$ETH closed another weekly candle below $2,400.
It’s now below $2,350, and if Ethereum fails to reclaim it soon, a drop to $2,200 could happen next. pic.twitter.com/ICx2BuvfUD
— Ted (@TedPillows) October 26, 2026
Ethereum is currently trading at a press time price of $2,315. In the past 24 hours, the second largest crypto by market cap has shown a modest gain of around 0.3% to 0.7%, with a daily range between roughly $2,292 (low) and $2,361 (high).
Over the past 7 days, ETH has soared by 4.5%. However, it has been weaker over a longer recent window, down around 11% so far in October. It remains approximately 53% below its all-time high of $4,953.73 reached on August 24, 2025.
