TLDR
Ethereum recently tested the $1,980 support level after failing to break above $2,100
ETH is trading below the 100-hourly Simple Moving Average with resistance at $2,050
Technical patterns show a potential bearish flag formation on the daily chart
Some analysts predict a possible breakout beyond $2,100 based on chart patterns
Long-term comparisons suggest similarities to the 2018-2020 pattern before ETH’s major rally
Ethereum has entered a consolidation phase following a recent price pullback. The second-largest cryptocurrency tested the $1,980 support level after failing to maintain momentum above $2,100. Currently trading around $2,064, ETH shows mixed signals as traders watch key technical levels.
The price recently bounced from a low of $1,982 and moved back above the $2,000 level. This recovery represents a 23.6% Fibonacci retracement of the decline from the $2,097 swing high.
ETH is now trading below the 100-hourly Simple Moving Average. Technical indicators show a bearish trend line forming with resistance at $2,050 on the hourly chart.
The cryptocurrency faces hurdles near the $2,040 level. This coincides with the 50% Fibonacci retracement level of the recent decline from the $2,097 high to the $1,982 low.
On the upside, ETH must clear several key resistance levels to gain upward momentum. The first major resistance sits at $2,050, followed by a stronger barrier at $2,100.
If Ethereum breaks above the $2,100 level, it could potentially target the $2,150 zone. Further strength could push the price toward $2,250 or even $2,320 in the coming sessions.
On the downside, ETH has key support at the $2,000 level. The first major support level is at $1,980, which recently prevented further decline.
If Ethereum breaks below $1,980, the next support levels are at $1,920 and $1,880. Beyond that, the $1,810 level would become an important zone to watch.
Looking at the broader picture, Ethereum’s weekly chart shows concerning patterns. ETH formed a triple-top pattern around the $4,000 level, with tests in March, May, and November of last year.
The cryptocurrency has broken below the neckline of this pattern at $2,138. It has also fallen below an ascending trendline that connected the lowest swings since July 2022.
Adding to the bearish signals, ETH has dropped below both the 50-week and 200-week moving averages. Some analysts suggest this could lead to a decline toward $1,140 based on technical projections.
The daily chart reveals that ETH has stabilized recently, moving from a low of $1,763 to a high of $2,130. However, it remains below the 50-day moving average, suggesting bears still have control.
A bearish flag pattern has formed on the daily chart. This continuation indicator often leads to a bearish breakdown when confirmed.
Market Analysis
Some market watchers also point to a rising wedge pattern with two ascending and converging trendlines. This formation typically precedes a downward move, with a potential target at $1,763.
Not all analysts share the bearish outlook. Some experts believe Ethereum could break beyond $2,100 soon based on chart patterns and price action.
Analyst Crypto Patel identified a setup suggesting upward momentum. He noted that ETH is bouncing off a key area around $2,064, which he calls a “mitigation block” showing strong buying interest.
#Ethereum Prints Bullish Displacement – Swing High Liquidity in Sight$ETH Price respecting bullish POI with clear displacement on tap. Currently testing mitigation block post-retest. Anticipating bounce to sweep swing high liquidity at $2128.12.
Entry: $2064.60
— Crypto Patel (@CryptoPatel) March 25, 2025
Patel targets $2,128 as a swing high liquidity zone that could trigger a sharp move upward. His analysis includes a stop-loss at $2,027 to limit potential downside.
Another analyst, TimeFreedomROB, compared Ethereum’s current weekly pattern to what happened between 2018 and 2020. He suggests the current pattern resembles the setup before ETH’s massive rally from under $100 to nearly $4,800.
#ETH 1W
Price is showing the Same type of Break below support as last Cycle
Will Price Recover Rapidly Like Last Time?
pic.twitter.com/uoIDTd5w8L
— TimeFreedom ®️
(@TimeFreedomROB) March 25, 2025
For Ethereum to confirm a return to an upward trend on the weekly chart, it needs to climb back above the $2,200 to $2,400 range.
As of the latest data, Ethereum has gained 6% over the past week. Its market value stands at approximately $250 billion, with daily trading volume around $11.71 billion.
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