Ethereum Technical Analysis: 17 MAR 2025
Ethereum’s price and RSI lining up for a breakout. Source: TradingView
General View
Ethereum has shown some resilience after bouncing from recent lows, moving for a potential bullish deviation. Price is now approaching an important resistance zone, which almost coincides with both the descending trendline and a strong horizontal level. This confluence makes it a make-or-break moment for ETH. Bulls need to sustain momentum and push for a breakout above the resistance levels to confirm a structural shift. Meanwhile, RSI is signaling a possible breakout, which could support further upside if confirmed.
On the Upside
The intra-day resistance levels remain firm at $1940. Price has not succeeded in breaking above this level since 10th March, making it an important zone. A strong breakout above this resistance would quickly push Ethereum toward the $2020 and $2100 levels. This is where the congestion zone for Ethereum starts. Between $2100 and $2300 lies the make or break for Ethereum’s longer-term reversal.
On the Downside
The price has several intra-day supports inside the range with the primary supports between $1900 to $1880 levels. The momentum is currently favoring bulls and as long as the price holds these supports bulls will be driving the trend. Meanwhile, if strength slows and the range holds, then Ethereum can retest its lower supports at $1840 and $1820.
Ethereum’s consolidation range. Source: TradingView
