Ethereum Technical Analysis: 22 MAR 2025
Ethereum’s key S/R level reacts positively. Source: TradingView
General View
Ethereum has been in a sustained downtrend, struggling below the EMA-50 resistance. However, gradual improvement is visible as the price has consolidated over the past few days, holding the weekly support levels. A clear bullish divergence is now forming, signaling a potential trend reversal ahead. However, bulls need to gain momentum and push higher to confirm this divergence.
On The Upside
For Ethereum to regain strength, it must break above the EMA-50 level, which has consistently acted as resistance. In the short term, resistance levels are at $2,020, followed by $2,070. Any push into these levels will likely present a selling opportunity unless bulls manage to flip above the EMA-50 level, currently at $2,120.
On The Downside
Ethereum has held yesterday’s intra-day support, resulting in a slow and gradual push higher. For this session, the primary support is positioned at $1,965, followed by $1,940. The $1,940 support level has been crucial and will continue to hold significance. As long as Ethereum remains above this level, bulls will maintain control of the short-term trend.
RSI lining up for a potential breakout. Source: TradingView
