ETH is undergoing a correction within an uptrend, with bulls aiming to maintain the price above the immediate support level of $2,458. The upward-sloping 20-day exponential moving average at $2,398 and the positive zone RSI indicate bullish control. The RSI, currently at 60.6, leans toward a neutral to bullish outlook. The Crypto Fear & Greed Index, which recently scored 76, indicating “extreme greed,” has dropped to a neutral level. This shift suggests that excessive speculation may have subsided. Following the “sell the news” event, traders are expected to shift their focus to macroeconomic data, particularly watching for potential rate cuts by the United States Federal Reserve, possibly beginning in March.
At the time of writing, ETH was trading at $2,535.
ETH after giving a breakout above the long held resistance of $2,146 rallied up to $2,445. The asset was facing stiff resistance at this level and was struggling to give a daily closing above $2,400. However, the bulls did break and sustain above $2,400 and the prices rallied up to $2,717. ETH has a strong resistance at $2,750 and to further rally, it needs to break, close and sustain above this level, whereas $2,400 will act as a strong support for the asset.
Key Levels:
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $2,145 | $2,400 | ETH | $2,750 | $3,000 |
