Ethereum Experienced a Price Increase, This is the Analysis! (3/2/25)
Jakarta, Pintu News – Ethereum has experienced a significant price surge in recent times. The cryptocurrency managed to break through several key resistance levels and now faces the challenge of sustaining the gains. With the potential for an upward move as well as the risk of a downward correction, investors should keep a close eye on further developments in the Ethereum price.
Ethereum Rises 10% in Short Time
Ethereum experienced a price drop to the level of IDR34,365,720 ($2,080) before finally experiencing a sharp surge. This increase brought ETH past the resistance levels at IDR36,269,800 ($2,200) and IDR38,308,880 ($2,320).
An important breakthrough occurred when ETH managed to surpass the major bearish trend line at the level of IDR36,935,160 ($2,240), which was a positive signal for investors. After that, Ethereum even reached a high of IDR41,994,495 ($2,550), before undergoing a minor correction. Currently, the ETH price is still above IDR38,789,150 ($2,350) and continues to show strength above its 100-day moving average.
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Resistance Challenge at IDR41,994,495 ($2,550)
Despite its significant gains, Ethereum still faces some challenges at resistance levels. The first level to break is IDR41,222,280 ($2,500), before finally reaching the major resistance at IDR41,994,495 ($2,550).
If Ethereum manages to cross this level, further upside potential could take the ETH price to IDR43,714,885 ($2,650) and even IDR45,886,620 ($2,780). In an optimistic scenario, ETH could target a rise to IDR47,025,765 ($2,850) in the near future. However, investors should still be wary of market volatility that could lead to sudden changes in price direction.
Correction Risk if Failure to Break Resistance
If Ethereum fails to maintain its momentum and can’t break Rp41,994,495 ($2,550), it will likely experience another correction. The first support to watch is at IDR39,734,360 ($2,400), which is the lower limit before further downside potential occurs.
The next major support is at IDR38,789,150 ($2,360), which coincides with the 50% Fibonacci retracement level. If ETH drops below this level, the price could head towards IDR38,308,880 ($2,320) or even touch the previous low of IDR36,269,800 ($2,200). In the worst case scenario, Ethereum could again test the strong support level at IDR34,365,720 ($2,080), which was the starting point of the previous price surge.
Conclusion
Ethereum is showing a promising upward trend by breaking through some key resistance levels. However, challenges remain, especially around the IDR41,994,495 ($2,550) level, which is key to whether ETH can continue its rise or experience a correction. Investors and traders need to constantly monitor market movements and employ risk management strategies in anticipation of high volatility in cryptocurrency trading.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- NewsBTC. Ethereum Price Breaks Out Above $2,550. Accessed March 3, 2025.
- Featured Image: Decrypt
