Ethereum Price Just Bounced Off A Multi-Year Trendline That Called Every Bear Market Bottom Since 2019: Is A 3X Rally Coming?

What Happened

Ethereum’s Glamsterdam upgrade, scheduled for H1 2026, adds a forward catalyst: targeting a significant gas limit increase, parallel transaction execution, and enshrined proposer-builder separation that is expected to materially reduce Layer-2 costs.

The project’s core differentiator is its unified liquidity routing across fragmented L2 environments, a structural problem that grows in relevance as Ethereum’s rollup ecosystem expands post-Glamsterdam. Presale investments carry real risk, and this is an early-stage L3 infrastructure project with meaningful execution uncertainty. DYOR applies unconditionally.

Market Context

Ethereum price is trading at $2,355 in April 2026, up 8.09% on the monthly chart after the $2,000 monthly low was tested and held a multi-year ascending support trendline connecting every major ETH bear market bottom since 2019.

Ethereum Price Prediction: Multi-Year Trendline Holds, But Can ETH Reclaim Its SMAs?

The ascending support trendline on ETH’s monthly chart is not a recent construction. It connects the 2019 base, the 2020 pre-rally accumulation zone, and the 2022 cycle bottom, making it the deepest and most tested structural floor in Ethereum’s price history.

The April monthly candle printed a long lower wick at that trendline, a candlestick structure that signals demand absorption at scale. Price has since recovered to the $2,400 area, forming a positive monthly body above the line.

Both lines remain in negative territory, meaning the macro trend has not reversed. But a histogram turning positive at a multi-year trendline test is historically consistent with momentum inflecting before price does on the longer timeframe. The chart is mending. It hasn’t healed.

The SMA 20 at $2,857.71 is the extended objective, a return to where both SMAs converged before the 2025 breakdown. This broader technical structure in Ethereum long-term price chart has historically preceded significant recoveries when macro momentum aligns with structural support.

Exchange reserves hit multi-month lows as that supply moved off-platform, compressing available sell-side liquidity precisely where the trendline sits.

Perpetual futures showed a slightly positive funding rate as of April 12, indicating measured but persistent long-side demand. The Ethereum Foundation staked 45,000 ETH on April 5, targeting a total of 70,000 ETH, generating an estimated $3.9 to $5.4 million annually in yield while removing immediate circulating sell pressure.

ETH’s recovery potential is real – a move from $2,255 to the SMA 20 at $2,857 represents roughly 27% upside from current levels. For a large-cap asset with a market cap measured in hundreds of billions, that’s a meaningful return. The mathematical ceiling, however, is what it is.

Liquidchain (LQC) is one project drawing attention in this context, a Layer-3 execution environment designed to aggregate liquidity across Ethereum and its rollup ecosystem, with a technical architecture specifically targeting the throughput bottlenecks that Glamsterdam addresses at the base layer.

The presale has raised over $660K at a current token price of $0.0147, with staking rewards available to early participants.

Why It Matters

The monthly MACD (12,26,9) adds the critical secondary signal. The MACD line sits at -29.45 and the signal line at, 159.35, producing a histogram reading of positive 129.89, the first positive monthly histogram since Ethereum’s descent accelerated from its August 2025 high near $4,800.

Traders seeking asymmetric exposure at this stage of the cycle are increasingly looking at early-stage infrastructure projects positioned around Ethereum’s scaling roadmap.

Details

The bounce is in progress. What traders are now watching is whether it has structural legs or simply marks a temporary reprieve before the next leg lower.

On the upside, two SMAs define the recovery corridor. The SMA 50 at $2,440.86 is the immediate resistance and the first target that would shift the moving average ribbon from fully bearish.

The buy walls flanking the $2,000–$2,100 zone are supported by on-chain data.

CryptoQuant contributor Arab Chain reported that whales withdrew over 120,000 ETH from centralized exchanges in early March, the largest single outflow since October 2025, a pattern consistent with accumulation near structural support rather than distribution.

Crypto analyst Leshka posted on X that ETH “will 3x-4x in the next six months,” citing the developing supply squeeze as evidence of a structural base forming – a view that gains more grounding with the monthly MACD now confirming improving momentum.

Invalidation is unambiguous. A monthly close below $2,017.09 breaks the trendline outright and shifts the macro structure bearish, with $1,500 the next level of consequence.

Discover: Macro context shaping crypto technical setups right now

Liquidchain Targets Early-Mover Upside as Ethereum Tests Key Levels

Explore the Liquidchain presale here