Ethereum Price Prediction: ETH Price May Jump 20% From Key Support, Downside Remains Capped Near $2,500

Ethereum price is trading with a positive bias on Monday but hovers in a very tight range. ETH must break the short-term price consolidation of $2,500 and $2,800 with strong volumes to decide further course of action. The formation of alternate red and green candlesticks near the support zone indicates indecision among investors.
- Ethereum price trades higher amid range-bound trade.
- Expect an upside of 20% if breaks above the descending trend line.
- The momentum oscillators remain neutral with no clear directional bias.
Ethereum price looks for directional set up
On the daily chart, the Ethereum price face multiple rejections near the crucial 50-day EMA (Exponential Moving Average) first near $3,274.0 thereafter at $3162.35, and finally at $3,040.70. In addition to that, every time the formation of a ‘red’ candlestick indicates the momentum of the selling pressure.
However, it is interesting to watch that sellers are accumulating the altcoin near the stable support zone of $2,500 with a brief breach of the level on February 24. Ethereum price is making higher with limited upside gains since ETH tested all-time lows on January 24 at $2,159.0.
Currently, the price is oscillating near the familiar support zone, a bounce-back is expected in the ETH first toward the 50-day EMA at $2,847.66.
A renewed buying pressure could fuel the further upside in ETH/USD to test the $3,200 horizontal resistance line that will also mark the crossing of the critical 200-EMA.
On the contrary, a spike in sell order or if the buyers are not convinced of the upside momentum Ethereum price could crash to February lows of $2,300 in that scenario.
Technical indicators:
RSI: The daily Relative Strength Index is oscillating near the average line since February 11. Any uptick in the indicator could push the price higher in the short term.
MACD: The Moving Average Convergence is still trading below the midline with no clear directional bias.
As of writing, ETH/USD is trading at $2,573, up 2.25% for the day. The 24-hour trading volume of the second largest cryptocurrency holds at $11,164,596,101.
- Robinhood Lists HYPE As Hyperliquid Flips Aster, Lighter In Perp DEX Volume
- Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow
- US President Promises Deal With China on Everything As ‘Trump Insider’ Begins To Close Bitcoin Shorts- Is A BTC Recovery Ahead?
- Just-In: Changpeng “CZ” Zhao Counters Peter Schiff, Says “Tokenizing Gold Is Not On-Chain Gold”
- $240 Million Hacked Crypto Exchange WazirX Reopens Deposits But Faces Community Backlash
- Ethereum Price Poised for Breakout as Wyckoff Re-Accumulation Meets BlackRock’s $110M Purchase
- BNB Price Forecast: Analysts Eye $1500 Ahead of Fresh Coinbase and Robinhood Listings
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card