The post Monthly Close Below This Level Could Be Catastrophic appeared on BitcoinEthereumNews.com.

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Ethereum has struggled to gain momentum, remaining stuck below critical resistance for over a year. Despite multiple attempts, the second-largest cryptocurrency by market capitalization has been unable to break through key technical levels since the beginning of this year.  Related Reading Ethereum’s price action over the past two weeks has shown more weakness. An interesting analysis from analyst Tony “The Bull” Severino shows that the cryptocurrency recently failed to break above a resistance indicator and is now at risk of more catastrophic price drops. Ethereum Fails To Breach Long-Term Resistance Tony “The Bull” Severino, in a technical analysis shared on social media platform X, highlighted Ethereum’s persistent failure to overcome major resistance levels. He pointed out that Ethereum has been unable to tag the quarterly (three-month) Parabolic SAR despite more than a year of attempts. This indicator, often used to determine the direction of an asset’s trend, shows that Ethereum is locked in a prolonged struggle against resistance on a larger downtrend.  “This feels like it sends a message — resistance won’t be broken,” the analyst said. Image From X: Tony “The Bull” Severino Adding to the failure to break resistance, Tony Severino also noted in another analysis that Ethereum has repeatedly faced rejection from the quarterly (3M) SuperTrend dynamic resistance, further solidifying the case that buyers have been unable to regain control. Image From X: Tony “The Bull” Severino A Monthly Close Below $2,100 Could Be Catastrophic Ethereum’s…

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Filed under: News - @ March 9, 2025 3:20 pm