Ethereum Price Upside Potential: Will Bulls Break Major Resistance? (7/3/25)

Di-update

March 7, 2025

Gambar Ethereum Price Upside Potential: Will Bulls Break Major Resistance? (7/3/25)

Jakarta, Pintu News – Ethereum price has recently started a recovery wave from the $2,000 support zone. Currently, ETH is showing signs of upside and has the potential to break the $2,350 resistance zone. Ethereum price is now trading above $2,200 as well as above the 100-hourly Simple Moving Average.

There is also a key ascending channel forming with support at $2,200 on the ETH/USD hourly chart. On the upside, the price seems to face resistance near the $2,275 level. The first major resistance level is located near the $2,340 level, which is also the 61.8% Fibonacci retracement level of the move down from the $2,550 high to $2,003 low. If it manages to cross the $2,340 resistance, the price could head towards the $2,420 resistance.

Further Upside Potential

In case of a breakout above the $2,420 resistance, it could trigger further gains in the coming sessions. In that scenario, Ethereum (ETH) could increase towards the $2,500 or even $2,550 resistance zone in the short term. This momentum is supported by the hourly MACD (Moving Average Convergence Divergence) Indicator showing strengthening in the bullish zone. In addition, the hourly Relative Strength Index (RSI) for ETH/USD is now above the 50 zone, signaling the presence of buyer strength in the market.

Also Read: The Burning of 20 Million SHIBs: Will Shiba Inu Prices Skyrocket? (7/3/25)

Possible Price Drop

However, if Ethereum (ETH) fails to break the $2,275 resistance, there is a possibility that the price will experience another decline. Initial support lies near the $2,240 level, with the first major support being in the $2,220 zone. If the price moves below the $2,130 support, it could push the price towards the $2,080 support. A further drop would probably take the price to the $2,050 support level in the short term, with the next key support being at $2,000.

Conclusion: Ethereum Outlook

With favorable technical indicators in place, as well as chart formations suggesting upside potential, market participants should remain vigilant on the future price movements of Ethereum (ETH). A rise above key resistance levels could open the door for more significant gains, while failure to break could result in further declines.

Also Read: Litecoin (LTC) Hit a Record High, Will the Price Surge? (7/3/25)

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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.