Ethereum price prediction centers on a decisive test near $2,150 after a sharp weekly selloff. Moreover, chart structure and on-chain valuation bands point to a deeper downside zone below $2,000 if support fails.
Ethereum Weekly Chart Tests $2,150 Support as Cheds Flags $1,500 Risk
Ethereum slid to the $2,150 area on the weekly chart after a sharp selloff, placing price on a level traders have treated as a long-running pivot. On the TradingView weekly view, ETHUSD printed a large red candle that cut through short-term moving averages and pushed price back into a horizontal support band that has capped and supported multiple swings since 2022. Market commentator Cheds said the $2,150 zone is the most important level on the entire chart history, adding that failure to hold this area opens the door to a deeper move toward the $1,500 range.
Ethereum / U.S. Dollar, 1W (ETHUSD). Source: TradingView / X
Price action shows ETH rolling over from the upper Bollinger Band after repeated rejections near the $4,000–$4,600 region earlier in the cycle. As price fell, ETH slipped below the 8-week and 34-week averages and continued toward the rising long-term trendline that guided the market from the 2022 low. The 50-week average now sits overhead and acts as near-term resistance, while the long-term trendline intersects near the current support band, tightening the decision zone around $2,150.
Momentum signals reflect a breakdown in structure rather than a brief pullback. The weekly sequence shows lower highs since the cycle peak, followed by a fast expansion in range as sellers pressed through prior consolidation shelves. Volume expanded on the selloff, and the candle closed near the lower half of its range, which signals sustained pressure into the weekly close. As a result, the $2,150 area now defines the line between a stabilizing base and continuation toward the next major demand pocket near $1,500, which aligns with the prior range lows from 2023 and the lower Bollinger Band zone on the weekly timeframe.
Ethereum MVRV Bands Flag Sub-$2,000 as Historical Bottom Zone
Ethereum’s long-term on-chain valuation model points to a familiar downside region as price trends lower on higher timeframes. Data from Glassnode shows ETH moving within the MVRV pricing bands, with past cycle lows forming when price dipped below the 0.80 band. Ali Charts said Ethereum bottoms have historically formed under this threshold, which now maps to the area just below $2,000 on the model.
Ethereum MVRV Pricing Bands. Source: Glassnode via Ali Charts (X)
The chart plots ETH against multiple MVRV bands that track market value relative to realized value across cycles. In prior drawdowns, price moved beneath the 0.80 band before stabilizing, then later reclaimed higher bands during recoveries. That pattern repeated during major downside phases, including the post-2021 unwind and earlier cycle resets, which marked extended basing periods near the lower valuation envelope.
As the model updates, the lower band continues to rise with network cost basis over time, while upper bands expand during bullish phases and compress during consolidations. The current configuration places the historical bottom zone below the 0.80 MVRV line, which has acted as a long-term valuation floor during stress phases across multiple market cycles.
Source: https://coinpaper.com/14290/ethereum-price-prediction-2-150-on-trial-as-on-chain-bands-map-sub-2-000-risk
