Will the weak impulse take ETH to $ 2.5K? (Ethereum price analysis)

ethereum's price action has been volatile in recent weeks, but the asset found a significant resistance zone.

With a strong sale pressure probably at this level, a rejection followed by a short -term decrease seems likely.

Technical analysis

By Shayan

The daily table

eth recently found support at the critical level of $ 2.5K and since then has jumped to the $ 3K region, reviewing the previously broken trend line of the descending wedge. However, this ascending movement seems to lack impulse, which resembles a setback instead of a sustained recovery.

In particular, the $ 3K region coincides with the 200 -day mobile average, which reinforces it as a strong resistance level where a significant sales pressure can arise. Given this confluence, the probability of rejection is high, which can lead to another bearish movement. If sellers recover control, ethereum could decrease even more, with the remaining $ 2.5K level the main objective of the disadvantage in the average period.

The 4 -hour table

Within 4 hours, the recent eth upward decline is evident as the price is closer to a key resistance zone. This area includes the lower limit of the wedge previously broken and aligns with the fibonacci recoil levels of 0.5 ($ 2.7k) and 0.618 ($ 2.9K), both of which historically act as strong resistance areas.

With the sale pressure probably concentrated within this range and the bullish impulse that appears weak, ethereum can fight to break higher. If rejection occurs, the price could be reversed towards the $ 2.5K support level, where a critical supply zone is expected.

Sail analysis

By Shayan

The recent Bybit Hack has raised concerns among market participants about their potential impact on price trends. A crucial metric to monitor in this context is the financing rate, which reflects the urgency of buyers and vendors in the execution of operations.

As illustrated in the graph, financing rates have experienced a strong decrease in the latest market turbulence, they even become negative. This fall suggests greater sales and activity driven by fear in response to hack. If this trend persists, particularly with continuous resistance at the $ 3K level, they could follow more decreases, with sellers who consider $ 2.5K as the next important support.

Historically, such covered drops in financing rates often lead to a lateral consolidation phase with greater volatility. In this case, the range of $ 2.5K– $ 3K could act as the primary negotiation zone until the feeling of the market stabilizes.

<!– ai CONTENT END 1 –>