Ethereum Technical Analysis: 15 MAR 2025
Ethereum short-term trendline breached. Source: TradingView
General View
Ethereum has been channeling in a sideway trend for the last few days. It has initiated a trendline breakout; however, the price, for now, is not reacting strongly despite the breakout. The Bulls are showing some resilience. The conditions could shift in favor of the bulls if they manage to climb above the immediate resistance. Meanwhile, failure to do so would keep the price confined within a range, leading to indecisive price action.
On the Upside
Price has breached the trendline resistance at the $1920 level, however, the momentum has, for now, failed to pick up. A breakout above $1960 could be a turning point for the day as this would mark the highest point since Monday’s session. If bulls fail to take advantage in the next few hours, then momentum is expected to slow further, potentially leading to a dip lower.
On the Downside
A new intra-day support has been formed at the $1905 level. This support level is accompanied by another intra-day support at the $1880 level. The next few hours will be important for Ethereum as any weakness could put these intra-day support levels under pressure, triggering a potential drop into $1820 to $1800 range levels. This zone has been a key short-term support base for Ethereum throughout the week.
Consolidation for Ethereum continues for yet another session. Source: TradingView
