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Home Market & Analysis

Ethereum Price Eyes Key Breakout—Will Momentum Lead to a Surge?

n70products by n70products
February 20, 2025
in Market & Analysis
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Ethereum Price Eyes Key Breakout—Will Momentum Lead to a Surge?
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Ethereum value is exhibiting optimistic indicators above the $2,620 zone. ETH is outshining Bitcoin and would possibly begin one other improve within the close to time period.

  • Ethereum remains to be exhibiting optimistic indicators above the $2,600 zone.
  • The worth is buying and selling above $2,650 and the 100-hourly Easy Transferring Common.
  • There’s a key contracting triangle forming with resistance at $2,700 on the hourly chart of ETH/USD (knowledge feed through Kraken).
  • The pair may begin a good upward transfer if it settles above $2,700 and $2,725.

Ethereum Worth Stays Supported

Ethereum value tried a recent improve above the $2,750 stage, beating Bitcoin. ETH broke the $2,780 resistance however it didn’t clear the $2,850 resistance zone.

A excessive was shaped at $2,847 and the value began a recent decline. There was a transfer beneath the $2,700 and $2,650 assist ranges. A low was shaped at $2,605 and the value is now consolidating features. There was a transfer above the 23.6% Fib retracement stage of the downward transfer from the $2,845 swing excessive to the $2,605 low.

Ethereum value is now buying and selling above $2,650 and the 100-hourly Simple Moving Average. On the upside, the value appears to be dealing with hurdles close to the $2,700 stage. There may be additionally a key contracting triangle forming with resistance at $2,700 on the hourly chart of ETH/USD.

The primary main resistance is close to the $2,725 stage or the 50% Fib retracement stage of the downward transfer from the $2,845 swing excessive to the $2,605 low. The primary resistance is now forming close to $2,750 or $2,755.

Ethereum Price
Supply: ETHUSD on TradingView.com

A transparent transfer above the $2,755 resistance would possibly ship the value towards the $2,850 resistance. An upside break above the $2,850 resistance would possibly name for extra features within the coming periods. Within the acknowledged case, Ether may rise towards the $3,000 resistance zone and even $3,050 within the close to time period.

One other Drop In ETH?

If Ethereum fails to clear the $2,725 resistance, it may begin one other decline. Preliminary assist on the draw back is close to the $2,660 stage. The primary main assist sits close to the $2,600 zone.

A transparent transfer beneath the $2,600 assist would possibly push the value towards the $2,550 assist. Any extra losses would possibly ship the value towards the $2,500 assist stage within the close to time period. The subsequent key assist sits at $2,440.

Technical Indicators

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

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

Main Assist Degree – $2,660

Main Resistance Degree – $2,725



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Tags: BreakoutWillEthereumeyesKeyleadMomentumPricesurge
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