$ETH Ethereum (ETH) recently experienced a significant event: a short position worth $80,040 was liquidated at a price of $2,821 on Bybit. This suggests that the market moved against bearish expectations leading to the liquidation of the short position.
Current Market Overview
As of March 4, 2025, Ethereum's price is approximately $2,038.90. Over the past week, ETH has seen a decline of about 19.57%, with forecasts suggesting a potential rise to $2,449.94 by March 8, 2025.
Buy Zone, Target, and Stop Loss Recommendations
Buy Zone: Considering the recent price movements, a potential buy zone could be between $2,000 and $2,100. This range offers a favorable entry point, especially if the price stabilizes within this area.
Target: Given the forecasted short-term price increase, setting a target around $2,400 aligns with current market predictions.
Stop Loss: To manage potential risks, a stop loss between $1,800 and $1,900 is advisable. This range helps protect against unexpected market downturns.
Technical Indicators
Technical analysis indicates a bearish trend for Ethereum. Both the 50-day and 200-day moving averages are sloping downward, suggesting continued downward momentum. The Relative Strength Index (RSI) is in the neutral zone, indicating neither overbought nor oversold conditions.
Market Outlook
Analysts have varying predictions for Ethereum's price in 2025. Some forecasts suggest a minimum price of $1,493.30 and a maximum of $2,229.73. Others anticipate higher values, with potential peaks reaching $6,000 by mid-2025 and possibly $10,000 by the end of the year, assuming bullish momentum persists.