HomePrice PredictionsETHEthereum Testing the Line at $1,940: Breakout or Breakdown Next?

Ethereum Testing the Line at $1,940: Breakout or Breakdown Next?

Date:

Ethereum Technical Analysis: 21 MAR 2025

ETH Technical Analysis

$1940 is an important session support. Source: TradingView

General View

Ethereum has been consolidating in a tight range, attempting to sustain its latest breakout. Price action remains confined within key levels, with $1,940 acting as a pivotal zone. The short-term bullish momentum allowed ETH to push into resistance, but the lack of follow-through has resulted in another rejection. The broader structure indicates that Ethereum is still battling to regain strength after previous sell-offs. A sustained hold above $1,940 is crucial to maintain bullish momentum and avoid a deeper retracement. 

On the Upside

A successful breakout above the $1,940 resistance level would be a strong bullish signal, opening the door for Ethereum to target $2,020. If buyers manage to push the price beyond this level, the next key resistance comes at $2,100, where the broader congestion zone begins. A confirmed break above $2,100 could accelerate Ethereum’s recovery, bringing $2,300 into focus. This would mark a key turning point for Ethereum’s larger trend, potentially signaling a shift towards a more sustained bullish phase.

On the Downside

Ethereum is holding at the recent breakout levels, attempting to establish support after its latest push higher. Price action remains within a key range, with $1,940 acting as a critical pivot. Failure to hold above $1,940 increases the likelihood of further downside. Immediate support lies at the session lows near $1,900. If selling pressure intensifies, ETH could revisit the $1,850 region, a key area from the recent consolidation phase.

ETH Technical Analysis

Ethereum’s deviation is getting established on a daily time frame. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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