Ethereum has been on a rollercoaster ride since early February, experiencing sharp declines followed by swift recoveries. At the start of the month, ETH plunged below $2,200, hitting one of its lowest levels in months. However, strong buying pressure pushed prices back above $2,500, leading to a consolidation phase.
Despite this recovery, Ethereum has struggled to break through resistance at $2,800, facing repeated rejections. The latest attempt saw ETH hit $2,819 before dipping back to $2,680, indicating persistent market uncertainty. If Ethereum fails to hold above $2,600, a retest of $2,400 could be next. On the flip side, a decisive breakout past $2,800 could trigger a strong bullish rally.
Ethereum Signals Strong Bullish Momentum
Despite short-term volatility, crypto analysts remain optimistic. On February 23, analyst Crypto Caesar shared a chart highlighting an ascending trendline that has consistently acted as critical support. Every time ETH touched this trendline, it rebounded strongly.
$ETH – #Ethereum: we bounced from this support. Mark my words: new all time highs soon. pic.twitter.com/ZLqEdKPxpV
— Crypto Caesar (@CryptoCaesarTA) February 23, 2025
The latest bounce from this level is seen as a bullish signal. Historically, Ethereum has followed this pattern with significant upward moves. Crypto Caesar’s chart also identifies key support and resistance zones. The $2,200-$2,300 range has been a strong accumulation zone, where buyers have consistently prevented further declines. Respecting this level suggests that bullish momentum is building.
Additionally, multiple “Change of Character” (CHoCH) labels on the chart indicate market trend shifts. In previous instances, CHoCH signals marked transitions from bearish to bullish phases. The most recent CHoCH aligns with Ethereum’s current bounce, hinting at a potential price surge. Crypto Caesar expressed confidence, stating, “New all-time highs soon.”
Crypto Experts Predict $10K Ethereum Surge
Another analyst, Mister Crypto, has an even more ambitious outlook, predicting Ethereum could soon reach $10,000. His analysis focuses on an ascending triangle pattern, where higher lows indicate strong buying pressure against a consistent resistance level. Such setups often precede major breakouts, and he believes ETH is on the verge of a parabolic surge.
$10,000 $ETH is coming sooner than you think.
— Mister Crypto (@misterrcrypto) February 23, 2025
Ethereum is about to remind us why It's the king of DeFi! pic.twitter.com/686Muuwaoc
Supporting this view, analyst CryptoGoos suggests Ethereum is mirroring Bitcoin’s price action before its previous bull run. Crypto King further reinforced this perspective, declaring, “ETH is breaking towards $10,000.” If these predictions hold true, Ethereum could soon shatter previous records, reaching unprecedented heights.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
Also Read: Bitcoin and Ethereum Struggle Amid Market Downturn – Is a Rebound Coming?
