 ▲ Ethereum (ETH) |
Ethereum (ETH) is showing bullish signals on reversal charts. However, warnings have emerged that in the actual market it may retreat further to the $1,700 level as it has failed to break above its long-term downward curve.
According to a February 22 report by NewsBTC, Ethereum’s higher-timeframe structure has continued its downward trend following a sustained collapse since its $5,000 peak. Cryptocurrency analyst Mizer noted that while Ethereum’s price may appear positive on reversal charts, it has been unable to overcome a parabolic descending resistance line on standard charts. Mizer projected that the broader downward trajectory will remain intact until Ethereum decisively breaks above this resistance and establishes support.
Ethereum is currently consolidating around the $1,990 level as it searches for direction, with a short-term priority of breaking above the $2,150 resistance. Analysts warn that failure to overcome this barrier could push the price down to a support zone between $1,700 and $1,850. The parabolic resistance line formed from the $5,000 high has acted as a formidable wall, limiting upward momentum for several months.
Skepticism is growing in the market regarding Standard Chartered’s year-end price target of $7,500 for this year. After rebounding to $3,370 earlier in the year, Ethereum has since fallen about 40%, significantly losing upward momentum. Experts say that reaching $7,500 would require sustained inflows into spot Ethereum ETFs and a recovery in performance relative to Bitcoin to levels seen in 2021.
Spot Ethereum ETFs remain a key variable in the market, but the recent slowdown in inflows reflects weakened investor sentiment. Analysts suggest that without clearer regulatory frameworks and renewed institutional demand, it will be difficult to overcome the current sluggish trend. Technically, Ethereum is at a critical decision point, and whether key support levels hold could determine its trajectory over the coming months.
The Ethereum market remains cautious as technical resistance intersects with macroeconomic uncertainty. Investors are closely watching both the potential breakout above the parabolic resistance line and the strength of support near $1,700. Changes in the regulatory environment and the pace of institutional capital inflows are expected to play pivotal roles in Ethereum’s future price formation.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The information provided should be interpreted for informational purposes only.*