Ethereum Bounces Off the Old Reliable Trendline and MACD Finally Decides to Join the Recovery

Ethereum is trading at $2,255.04 in April 2026, up 7.09% on the monthly chart, after the $2,017.09 monthly low tested and held the ascending support trendline connecting Ethereum's major lows since 2019. The monthly MACD histogram has turned positive at 129.89, marking the first constructive macro momentum signal since the late 2025 decline from the $4,800 peak. Because apparently ETH needed a reminder that some levels just refuse to break, and this particular floor has more historical conviction than your uncle at Thanksgiving insisting Bitcoin will hit $1 million by morning.

Both SMAs remain overhead: the SMA 50 at $2,440.86 is the nearest resistance and the SMA 20 at $2,857.71 is further above. The April monthly candle is printing a long lower wick at the trendline, a candlestick structure that historically signals demand absorption at a structurally significant level. Those moving averages are sitting up there like bouncers at an exclusive club, except the dress code is "profit taking" and the line keeps forming regardless.

The ascending support trendline on the monthly chart connects Ethereum's bear market lows in 2019, the 2020 pre-rally base, and the 2022 cycle bottom, making this the deepest and most tested structural level on Ethereum's price history. The $2,017.09 monthly wick is the most significant test of that trendline in the current correction, and it has held without a monthly close below it. Price has since recovered to the $2,255 area, forming a positive monthly body above the trendline. Think of this trendline as Ethereum's version of that friend who always shows up—reliable through bear markets, regulatory FUD, and whatever else crypto throws at it.

The monthly MACD (12,26,9) provides the critical secondary signal. The MACD line at -29.45 is now 129.89 points above the signal at -159.35, producing a positive histogram. While both lines remain in negative territory, indicating the macro trend has not reversed, a histogram turning positive at a multiyear trendline test is consistent with momentum inflecting before price does on the longer timeframe. This is the first positive monthly histogram reading since Ethereum's descent accelerated from its August 2025 high near $4,800. The MACD finally decided to show up to the recovery party roughly three months late, but hey, better late than never—we're just glad it remembered where the chart was.

Crypto analyst Leshka wrote on X that $ETH will "3x-4x in the next six months," pointing to a supply squeeze developing on centralized exchanges as evidence of a structural base forming at the trendline level, a view that gains more technical grounding with the