Ethereum Price Action Analyzed for 2024 and 2025 by Analyst Tony Severino
Crypto analyst Tony Severino compared Ethereum's price action in 2024 to previous years, emphasizing key technical indicators.
Ethereum Price Analysis
- ETH's 2024 candle shows a lower high compared to 2023.
- The 2025 candlestick appears as a bearish engulfing pattern.
- Yearly support is at $735; Parabolic SAR indicates $370.
- TD Sequential count shows a red 1, suggesting a potential yearly downtrend.
- Concerns arise from ETH dropping below $2,000 for the first time since December 2023.
Analyst Ali Martinez warned of possible drops to $1,600 or $1,200 after breaking a parallel channel's lower boundary.
Potential Reversal Signals
- Analyst Titan of Crypto believes Ethereum's bottom may be reached.
- ETH's daily chart indicates a significant point for potential reversal.
- Two CME futures gaps above $2,500 remain unfilled, traditionally indicating a rebound.
- Current price is around $2,176, with a 3% increase in the last 24 hours.
