#ETH #Binance
As of March 23, 2025, Ethereum (ETH) is trading at approximately $2,013.32.
Technical Analysis:
Resistance Levels: Ethereum is approaching a significant resistance at $2,200. Analysts caution that failing to surpass this level could trigger a potential decline to around $1,700. Mitrade
Chart Patterns: Recent analyses indicate that Ethereum has formed a "megaphone bottom" pattern, reminiscent of formations seen in 2020, suggesting potential volatility ahead. NewsBTC
Market Sentiment:
Betting Markets: Current sentiment reflects a 29% probability of Bitcoin reaching $150,000 in 2025, with Ethereum expected to hit $1,500, indicating cautious optimism. Business Insider
Network Activity: The supply of Ethereum on exchanges has declined to levels not seen since November 2015, potentially indicating reduced selling pressure. TradingView
Conclusion:
Given the current technical indicators and market sentiment, Ethereum faces significant resistance at $2,200. Investors are advised to monitor these levels closely and consider their risk tolerance before making investment decisions.