Ethereum, can we always believe it? Technical analysis of the Ether of February 17, 2025

Paradigm shift and evolution of the ecosystem

We are Monday, February 17, 2025 and the course of Ether evolves around 2,800 dollars.

Our latest technical analysis of the ETH dates back to Thursday, January 30, 2025, when the cryptocurrency price evolved around $ 3,200. Since then, prices' action has undergone one of the most important liquidation events that the Crypto ecosystem has known, returning the Ether in the $ 2,100 area.

The crisis of confidence that the Ethereum project is going through seems to be both complex and deep. Many observers now consider assets as a losing potential from this cycle from a speculative point of view. However, it is important to note that the drop in the price of the token does not question the fundamental qualities of the project.

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On the derivative market side, open interests (OI) on Ethereum remain high. They are located above the pre-electoral levels, although the current price of the asset is significantly similar. Unlike many other tokens, the OI observed on Ethereum (in terms of tokens) remains relatively resilient, with a drop of only 10 % from its recent summits. This performance testifies to an still solid speculative commitment for the second greatest asset in the crypto ecosystem.

In the past hours, we have seen an OI runaway, which has increased by 5 %, slightly surpassing the price increase of 4 % over the same period. This discrepancy between the growth of OI and that of prices invites caution, because it could point out the formation of a speculative excess. If this dynamic were to be prolonged, it could cause increased volatility movements, in particular if significant liquidations of positions are triggered.

Still in 2ᵉ position in the cryptocurrency ranking, with a capitalization of 331.79 billion dollars, the token ETH continues to disappoint some of its most fervent supporters, especially with a speculative perspective. But where are we technically on this asset?

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Ethereum, consolidation in a key area

The liquidation event which tormented the markets during the month of February returned the Ether under the major pivot of the 2,750 to 2,900 dollars. It is precisely under this level that he is currently consolidating, locked in a range that can be frames using the retirements 50 % of the downward candle of February 3 and the entire lower phase since 31 January, leading the assets from 3,455 to $ 2,150.

This is how we can define a range between 2,535 and 2,795 dollars. These levels are in the short term determining for the rest of the movement. Thus, a crossing from the top of the range would allow the assets to switch to a positive bias and to consider the reconquest of the previous supports that have become resistances. On the contrary, crossing from the bottom could send the Ether to a slow agony close to the lower wick of February 3, around the $ 2,100.

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If at this stage, the price action invites us to favor a bullish recovery, we should be wary because the high terminal that we have defined at $ 2,800 is confluence with the 20 daily mobile average, which is currently descending, thus offering great resistance. Return the downward trend that has materialized on the Ethereum graph will require either time or a lot of strength.

There are many resistors, although there is an emptiness zone between 2,920 and 3,137 dollars, which could, in the event of crossing, allow the assets to quickly join this last level where multiple obstacles l 'Wait, including the mobile average at 20 and 50 weeks which he must win back to envisage an upward recovery in the medium and long term.

The Ether will therefore need a daily fence above 2,800 dollars (and SMA20D) to show its upper intentions. If we manage to cross the resistances, it seems prudent to be patient while waiting for confirmation of the change of nature in supports before considering any position and thus avoid the trap of a false outing.

If the ETH confirms a reintegration over 3,000 dollars, the hypothesis of a return to $ 4,000 could again feed the debates.

Daily ETH course graphic

In summary, Ethereum crypto evolves under a major pivot. Consolidating under a pivot is a configuration that offers good bullish probabilities. The Ether is however bogged down in a downward daily trend which it will take time to return, unless an unexpected force of strength allows it to develop an impulsive phase.

So, do you think that ETH can again outperform the Crypto market? Do not hesitate to give us your opinion in the comments.

Have a nice day and we meet next week for a new technical analysis of Ethereum.

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Sources: tradingview, quince, glassnodeetf

Analyst at Cryptoast Research for several years I carry out an in -depth watch in the crypto market to analyze the next narratives while keeping the financial markets to the eye.

Emmanuel Lazaro

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