The post Ethereum Price Analysis: Range-Bound or Breakdown? appeared on BitcoinEthereumNews.com.

Ethereum’s price trajectory is at a critical juncture, with analysts divided between a potential rebound and a looming bearish reversal. As of February 20, 2025, ETH is trading at $2,728, reflecting a 0.59% decline. The chart suggests two contrasting scenarios, each with significant implications for the second-largest cryptocurrency. According to Crypto Analyst Ali Martinez on X,In the optimistic outlook, Ethereum remains range-bound, with $2,300 acting as a key support level. If ETH tests this support and holds, traders could see a solid recovery, with bullish momentum propelling the price toward the $4,000 resistance level. Historically, such consolidations often precede strong upward movements, especially if market sentiment and on-chain metrics align. A bounce from $2,300 could signal renewed investor confidence, potentially setting the stage for ETH to reclaim higher levels seen in previous cycles. This scenario hinges on Ethereum’s ability to maintain its position above critical support zones amid broader market fluctuations. Double Top Sparks Bearish Concerns and Key Levels to Watch On the flip side, technical analysts are increasingly concerned that Ethereum’s current price action resembles a double-top pattern a classic bearish reversal formation. The chart illustrates two distinct peaks, with the price failing to sustain gains above $4,000 before retreating sharply. If this pattern plays out, ETH could break below $2,300, triggering a more extended correction. A confirmed double-top breakdown might push the price toward the $2,000 psychological support, where buyers would need to step in forcefully to prevent deeper losses. The next few weeks will be crucial for Ethereum, with $2,300 serving as a make-or-break level. A decisive bounce could reignite bullish sentiment, while a breakdown may accelerate selling pressure. Analysts advise closely monitoring trading volume and macroeconomic factors, as both could influence Ethereum’s direction. The broader cryptocurrency market including Bitcoin will likely play a pivotal role in…

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Filed under: News - @ February 21, 2025 12:16 am