Currently, Ethereum (ETH) is trading at $2,087.30 after a 4.60% increase in the last 24 hours. However, over the past 30 days, Ethereum has experienced a 24.51% decline, reflecting wider market corrections and uncertainty.
Ethereum price analysis
A 24.51% decline over the last 30 days reveals the market is bearish over the long term. This difference between short-term meetings and long-term revisions is typical in the crypto space and underscores the need for careful technical analysis.
Oscillators and momentum indicators
The momentum indicator provides additional clarity:
- Relative Strength Index (RSI): RSI is currently hovering in its mid-50s, suggesting that Ethereum is not an acquisition or overselling. This neutral state leaves room for critical movement in either direction. When the RSI exceeds 60, it shows an increasing bullish momentum. If it falls below 40, it indicates bearish strengthening.
- MACD (moving average convergence divergence): In the short time frame, MACD is beginning to show bullish convergence, but on daily charts the photos remain mixed. A clear bullish crossover on daily MACD is a key signal to ensure that upward momentum is back.
- Volume analysis: The recent increase in trading volumes accompanied by a gain of 4.60% reinforces the idea that current gatherings are supported by actual market activities. Volume is an important factor. Large quantities of the body are resistant, which are present in large quantities during upward movement.
Key support and resistance levels
Identifying key price levels is essential for traders.
- Support Level: Ethereum’s main support can be found for around $2,050-$2,070. This area has historically provided floors during previous revisions, but if ETH can retain this support it could serve as a launch pad for further recovery.
- Resistance level: Immediate resistance is identified between $2,100 and $2,130. A successful breakout that exceeds this range, especially when confirmed in large quantities, allows ETH to open the door to target levels in the short term, ranging from $2,200 to $2,400.
Ethereum price forecast
Based on current technical indicators and market conditions, we can outline three potential scenarios for Ethereum price on March 24, 2025.
A bullish scenario
If pressure is increased:
- Possibility of breakouts: A sustained rally pushing ETH above the $2,100-$2,130 resistance zone can cause bullish breakouts. In this scenario, Ethereum could rise towards the $2,200-2,400 range.
- catalyst: Positive developments such as regulatory clarity, increased institutional adoption, or successful network upgrades (e.g., enhanced staking and scalability capabilities in Ethereum 2.0) could serve as a catalyst for rally.
- confirmation: Technical confirmation comes from over 60 sustained RSIs, daily chart bullish MACD crossovers, and high trading volumes supporting upward movement.
Integration scenarios
If the market remains indecisive:
- Range bound trading: Ethereum could continue to trade within the combined range, possibly between $2,050 and $2,130. This range-based scenario suggests that market participants are waiting for a clear catalyst before making a critical move.
- meaning: During this integration phase, ETH may remain close to its current level at $2,087.30 due to slight fluctuations. This stability could set the stage for breakouts when buyers and sellers dominate the market.
Bearish scenario
If the bearish momentum resumes:
- Support breakdown: If Ethereum cannot maintain support at the $2,050-$2,070 level, it could result in increased downward pressure and lower prices.
- Price target: In a bearish scenario, ETH could retreat to a level in the $1,900-$1,950 range if sales pressure rises.
- index: A reduction in RSI below 40 and bearish MACD crossover on the daily charts confirms the bearish outlook.
- Market Reaction: Depends below key support, particularly when trading volumes drop, can lead to a longer-term decline.
Overall price forecast
Given the recent 4.60% gain that brought Ethereum to $2,087.30 along with a 24.51% decline over the last 30 days, the short-term Ethereum price forecast for March 24, 2025 is that ETH will trade at current levels. In bullish scenarios, breakouts above resistance levels (approximately $2,100-$2,130) could drive ETH to the $2,200-$2,400 range. Conversely, if support fails between $2,050 and $2,070, the price could drop to around $1,900 and $1,950. The ultimate result depends on external catalysts such as investor sentiment, trading volume, regulatory news and technological advances.
Investment risk consideration
Investing in Ethereum poses inherent risks due to its volatile nature and the unpredictable landscape of the cryptocurrency market. Investors should conduct a thorough investigation, maintain a diverse portfolio, and consider consulting with a financial advisor before making investment decisions in this highly volatile market.
