HomePrice PredictionsETHEthereum Holds $1,940 Support: Eyeing EMA-50 Breakout?

Ethereum Holds $1,940 Support: Eyeing EMA-50 Breakout?

Date:

Ethereum Technical Analysis: 23 MAR 2025

ETH Technical Analysis

Bulls gradually pushing the price higher towards resistance. Source: TradingView

General View

Ethereum has staged a strong recovery after breaking out of its consolidation phase between $1,820 – $1,940. Price has successfully bounced off the retest levels of $1,940, confirming a bullish shift in momentum. Bulls are now attempting to sustain gains above this level, pushing towards higher resistance. If Ethereum continues holding above this breakout zone, a retest of key resistance levels could follow. 

On The Upside

The immediate resistance stands at $2,070, where Ethereum recently faced rejection. A clean breakout above this level could fuel further upside towards the next major resistance at $2,140. Beyond this, Ethereum may enter a stronger bullish phase, targeting levels above $2,200.

On The Downside

Bulls are in a comfortable spot as long as they maintain a $1940 support level. If Ethereum fails to hold above the $1,940 session support, it may re-enter the previous consolidation range, increasing the risk of a drop toward $1,880. A deeper correction below this level could expose Ethereum to further weakness, with sellers potentially targeting $1,820 as the next key support.

ETH Technical Analysis

Ethereum’s EMA-50 is currently positioned at the $2110 level. 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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