ETH/USD quotes are trading at the 2342 level and continue to move within the downtrend and descending channel. Moving averages indicate a short-term bearish trend for Ethereum. Prices broke through the area between the signal lines downwards, indicating selling pressure and the potential for continued asset price decline from current levels. At the moment, an attempt to develop a bullish correction of the coin and test the resistance level near the 2575 area should be expected. From there, a rebound of prices downward and a continuation of the Ethereum exchange rate decline with a potential target below the 1475 level are expected.
Ethereum Forecast and Analysis for February 28, 2025
An additional signal in favor of the ETH/USD decline will be a test of the resistance line on the Relative Strength Index (RSI). A second signal will be a rebound from the upper boundary of the descending channel. A strong rise in Ethereum’s price and a breakout of the 2965 level will cancel the cryptocurrency’s decline scenario. This will indicate a breakout of the resistance area and continued ETH/USD growth toward the 3355 level, with a breakout of the support area and closing quotes below the 2285 mark.
Ethereum Forecast and Analysis for February 28, 2025 suggests an attempt at a bullish correction and a test of the resistance area near the 2575 level. From there, a rebound and continuation of the ETH/USD cryptocurrency decline into the area below 1475 should be expected. An additional signal in favor of Ethereum’s decline will be a trendline test on the Relative Strength Index (RSI). The cancellation of the digital currency’s decline scenario will be a breakout of the 2965 area, indicating continued digital currency growth with a potential target above the 3355 level.
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