Ethereum Price Analysis February 28, 2025: ETH Dumped Below $2100 Amid Market Turbulence

What’s happening in the Finance world? Why are the top dominants like Ethereum facing a significant price decline? Is this the start of a bear phase for Ethereum?  After President Trump’s trade policies, regulatory decisions on cryptocurrency, and the recent Bybit hack, the crypto market has been heating with a notable price decline. Could this market turbulence trigger Ethereum to further downside risks? Let’s analyze the last 24 hours’ price action of Ethereum in detail to find its next move.

Ethereum Fluctuating in the Trading Range – February 27, 2025

On February 27, 2025, Ethereum’s trading day kicked off with a dynamic price fluctuation within the trading range. In the early trading session, Ethereum’s price movement began with a short rise. But at 02:25 UTC, ETH price entered the downward channel and dropped to $234.82. Subsequently, a Golden Cross on MACD at 04:50 UTC signaled a possible uptrend. Likey, at 05:00 UTC, ETH began to swing on the upside. At 05:15 UTC, ETH breached a breakout, continued to move on the upward channel, and reached $2386.47. The RSI Overbought zone endorsed this ensuing uptrend at 06:35 UTC. 

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, Feb 28, 2025

Conversely, at 11:10 UTC, a Death Cross on MACD signaled a possible downtrend. At 11:20 UTC, a pin bar, followed by a full-body red candle, signaled a sharp price decline at $2386.47 resistance. As expected, the ETH price began to move on the downward channel, broke the support at $2252, led to a fake out, and dropped to $2231. A Death Cross on MACD at 18:45 UTC affirmed this downfall. However, at 21:05 UTC, ETH found support at $2231, pulled back above the support at $2252, moved in an upward channel, and closed at $2309. An RSI oversold zone at 20:55 UTC signaled this ensuing uptrend.

Ethereum’s Steep to $2075 on February 28, 2025

As illustrated in Chart 1, on February 28, 2025, Ethereum’s price movement started with a quick rise and reached the resistance at $2315.97. At this level, a pin bar, followed by a full-body red candle, signaled a significant price fall. Likely, at 00:10 UTC, ETH began to fall, breached a breakout, spiked, and broke the support at $2231. This led to another breakout; ETH entered the phase of a downward channel and dropped to $2125. A Death Cross on MACD at 00:40 affirmed this downtrend. But at 02:45 UTC, ETH experienced a brief rise and reached $2195.35. A Golden Cross on MACD at 03:00 UTC asserted this short-term rise. 

Conversely, at 03:05 UTC, ETH price resisted at $2195.35, entered the phase of a downward channel, and dropped to $2075. However, at 04:00 UTC, ETH encountered an RSI Oversold situation, indicating a possible trend reversal. As expected, at 06:45 UTC, ETH found support at $2075, struggling to recover from the fall. 

Ethereum’s Possible Scenario

Based on the last 24 hours’ Ethereum price analysis, it is evident that the ETH price movement is suggesting a strong bear momentum. At the moment, the ETH price movement is struggling to move on the upside. If the ETH price failed to swing on the upside, it could break the support at $2075, indicate a further price decline, and lead to a sharp correction. On the off chance that ETH moves on the upside, it could bounce back to the resistance at $2195.35.