Ethereum Technical Analysis: 31 MAR 2025
Ethereum continues to remain under immense selling pressure. Source: TradingView
General View
Ethereum remains under pressure as price starts to break below the supportive region, signaling a potential shift in momentum. The selling pressure has intensified, bringing ETH closer to critical downside levels. Bulls need to step in and force a deviation to reclaim lost ground. Failure to do so could see the lower trendlines of the wedge come into play. The market remains cautious, with bulls needing to step in decisively to prevent further downside.
On The Upside
Ethereum now faces primary resistance at $1820, followed by $1850. Both are key hurdles that will test the strength of buyers. A successful push beyond these levels could pave the way for further gains, but bulls will then encounter another challenge around $1880 to $1900.
On The Downside
On the downside, Ethereum’s key support level sits around $1780, an area where buyers have defended price dips. However, if this level fails to hold, the next critical support lies between $1720 and $1700. This is the range that is likely to push for some aggressive short-coverings.
Ethereum’s active CME gap. Source: TradingView
