ETH at $1,961: Can Weekly Channel Support Trigger a Mid-Range Rebound?

⬤ Ethereum is back at a familiar make-or-break level on the weekly chart. Price is pressing against the lower rail of a multi-year rising channel, sitting right around $1,961 with the broader bullish structure still intact. Every time ETH has touched this lower trendline in the past, buyers showed up and pushed price back toward the middle of the range. Those prior bounces are marked clearly on the chart, and the current setup is following the same script.

⬤ The pattern inside this channel is pretty consistent: ETH drops to the lower boundary, finds support, and works its way back into the interior of the range. After sliding from the upper portion of the channel, Ethereum is now interacting with that same lower trendline that has held the uptrend together across multiple cycles. The channel structure stays valid as long as price doesn’t decisively close a weekly candle below it.

⬤ The weekly close is the key variable here. If ETH keeps finishing the week above the lower rail, a recovery toward mid-range stays on the table, consistent with what happened on prior touches. But the setup also comes with a clear invalidation: a confirmed weekly breakdown below channel support would change the technical picture entirely, shifting the narrative from “bounce at support” to “trend structure lost.”

⬤ With ETH sitting at a defined boundary rather than drifting through the middle of the range, the next few weekly closes carry real weight. A successful defense keeps the long-term channel thesis alive and the mean-reversion trade in play. A failure changes everything. Either way, this is one of the cleaner setups Ethereum has offered in a while, with the decision level visible and the conditions for both outcomes clearly drawn.