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Ethereum Price Faces Renewed Pressure—Is a Breakdown Imminent?

February 17, 2025
in Analysis
Reading Time: 3 mins read
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Ethereum worth is shifting decrease from the $2,800 zone. ETH would possibly acquire bearish momentum if it dips under the $2,650 assist zone.

Ethereum began a recent decline under the $2,720 degree.
The value is buying and selling under $2,700 and the 100-hourly Easy Transferring Common.
There was a break under a key bullish pattern line with assist at $2,680 on the hourly chart of ETH/USD (knowledge feed through Kraken).
The pair may begin an honest upward transfer if it settles above $2,700 and $2,720.

Ethereum Worth Dips Once more

Ethereum worth tried a recent enhance above the $2,650 degree, like Bitcoin. ETH broke the $2,720 resistance nevertheless it did not clear the $2,800 resistance zone.

A excessive was shaped at $2,791 and the worth began a recent decline. There was a transfer under the $2,750 and $2,720 assist ranges. The value dipped under the 50% Fib retracement degree of the upward transfer from the $2,614 swing low to the $2,791 excessive.

There was additionally a break under a key bullish pattern line with assist at $2,680 on the hourly chart of ETH/USD. Ethereum worth is now buying and selling under $2,700 and the 100-hourly Easy Transferring Common.

Nevertheless, it’s now discovering bids close to the 76.4% Fib retracement degree of the upward transfer from the $2,614 swing low to the $2,791 excessive. On the upside, the worth appears to be dealing with hurdles close to the $2,680 degree. The primary main resistance is close to the $2,720 degree.

Ethereum Price
Supply: ETHUSD on TradingView.com

The primary resistance is now forming close to $2,780 or $2,800. A transparent transfer above the $2,800 resistance would possibly ship the worth towards the $2,880 resistance. An upside break above the $2,880 resistance would possibly name for extra positive factors within the coming periods. Within the said case, Ether may rise towards the $3,000 resistance zone and even $3,050 within the close to time period.

Extra Losses In ETH?

If Ethereum fails to clear the $2,720 resistance, it may begin one other decline. Preliminary assist on the draw back is close to the $2,655 degree. The primary main assist sits close to the $2,615 zone.

A transparent transfer under the $2,615 assist would possibly push the worth towards the $2,550 assist. Any extra losses would possibly ship the worth towards the $2,500 assist degree within the close to time period. The following key assist sits at $2,440.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum within the bearish zone.

Hourly RSI – The RSI for ETH/USD is now under the 50 zone.

Main Assist Stage – $2,650

Main Resistance Stage – $2,720

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Tags: BreakdownethbtcethereumethusdETHUSDTFacesImminentPressureIsPriceRenewed
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