Ethereum Technical Analysis: 23 MAR 2025
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.
Ethereum’s EMA-50 is currently positioned at the $2110 level. Source: TradingView
