NewsBTC
19 February 2025
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Ethereum Price Shows Positive Signs Above $2,600 with Key Resistance at $2,700

Ethereum Price Analysis

  • Ethereum trades above $2,620, showing positive signs.
  • Current price is above $2,650 and the 100-hourly Simple Moving Average.
  • A key resistance level is at $2,700, with a contracting triangle forming on the hourly chart.
  • If ETH settles above $2,700 and $2,725, an upward move is likely.

Recent Performance

ETH attempted to rise above $2,750 but faced resistance at $2,850. A high of $2,847 was followed by a decline below $2,700 and $2,650, reaching a low of $2,605.

Currently, ETH is consolidating gains above $2,650. Resistance near $2,700 remains significant. The first major resistance level is at $2,725, with further resistance at $2,750 or $2,755.

Ethereum Price

A breakthrough above $2,755 could lead to a rise toward $2,850 and potentially towards $3,000 or $3,050.

Potential Risks

If ETH does not surpass $2,725, it may decline. Initial support is at $2,660, with major support at $2,600. A drop below $2,600 could push prices down to $2,550, and possibly $2,500, with the next key support at $2,440.

Technical Indicators

  • Hourly MACD shows decreasing momentum in the bearish zone.
  • Hourly RSI is above 50.
  • Major support level is $2,660.
  • Major resistance level is $2,725.