Ethereum News: ETH Seeks Key Resistance to Resume Bullish Trend

Ethereum Price Analysis: ETH Needs Key Resistance to Restart Bull Run

Ethereum’s price has seen a significant drop and failed to reach a new all-time high like Bitcoin. Technical analysis shows lower highs and lows since December 2024, with ETH losing more than a third of its market capitalization. However, there was a significant rebound yesterday, bouncing from the $2,100 support zone and breaking above the $2,400 level. For a new bullish trend to commence, ETH must reclaim a key resistance level.

Ethereum (ETH) Price Prediction for March 3

The current trading price of Ethereum (ETH) is at $2,355, marking a recent 5.03% increase over the past 24 hours. This surge suggests positive momentum, possibly driven by renewed investor interest, favorable news regarding network upgrades, or broader market recovery signals. Despite the short-term rally, Ethereum’s 30-day performance shows a 27.16% decline, indicating that the recent gains may be part of a temporary recovery within a longer-term bearish trend. The 20-day and 50-day Simple Moving Averages (SMAs) are vital for assessing Ethereum’s near-term trend. Presently, ETH’s price is hovering near these short-term averages. If the price continues to remain above these levels, it could signal further short-term gains.

Ethereum’s Pectra Upgrade: Set to ignite the next crypto rally?

Ethereum Pectra Upgrade will improve overall efficiency, allowing faster transactions and greater flexibility in gas fees. On-chain metrics reveal that exchanges have witnessed an outflow of $132 million worth of ETH tokens. Ethereum [ETH], the world’s second-largest cryptocurrency by market cap, is poised for massive upside momentum following the recent Crypto Strategic Reserve announcement and its upcoming Pectra upgrade. The Ethereum Pectra Upgrade is scheduled for the 5th of March 2025 and aims to enhance the network’s scalability, security, and usability.

Ethereum Sweeps All The Liquidity Below $2.1K – Time For A Comeback?

Ethereum has experienced a significant price surge, jumping from $2,200 to $2,500 in a few hours. This follows a period of extreme selling pressure that saw ETH drop to $2,080 on Friday. However, the market reversed after President Trump’s announcement of a U.S. Crypto Strategic Reserve, including Ethereum. This triggered a strong reaction, with ETH reclaiming key levels and boosting investor optimism. Traders now speculate if Ethereum can continue its rally towards the $3,000 mark. Top analyst Daan noted that ETH swept all liquidity below $2,100 before bouncing sharply.