ETH/USD Weekly Chart (Binance) – Source: TradingView
Looking at this higher time frame, a long-dated trend line from December 2018 seems to be the key support to watch if the current downtrend continues.
The first thing to notice is that this trend line is built based on oversold readings in the Relative Strength Index (RSI). This allows us to identify the market’s pain points and biggest drawdowns. These are the “blood in the streets” moments I referred to earlier.
We can see at least two previous instances when this trend line held quite well, the last one, and most relevant of all from a technical standpoint, being ETH’s April low of $1,400. Back then, the price bottomed and quickly recovered, until hitting $4,957 shortly afterward.
Ethereum (ETH) to $9,000 in 2026?
Historically, every bounce off this trend line support has resulted in big gains for ETH, averaging around 340%. Meanwhile, another potential buy opportunity is when the RSI hits 30, at which point the price has always reacted strongly with a dramatic reversal.
At the time of writing, ETH is around 33% away from its trend line support, meaning that there’s still some big downside risk to consider. It is not the best time to buy now, based on these historical trends.
Moreover, the weekly RSI currently sits at 42. Again, there’s still some room for further drops, negative headlines, and FUD.
Now, once the price hits this trend line support, or the RSI hits 30, whichever happens first, we could expect a sizable movement in the opposite direction that, if historical trends repeat, could deliver gains exceeding 300%. This means a potential target of $9,000 for 2026.
Whether you believe this is possible or not, the evidence is there that Ethereum has done it in the past. Will history repeat?