Ethereum Price Analysis of March 10, 2025: Ethereum Plunges From $2235 to $1990: Is a Recovery Ahead?

Are you tracking Ethereum and wondering if the downfall of Ethereum has stopped or reached its bottom? As expected, Ethereum dropped and marked another 52-week low. Ethereum shows bearish sentiment with a little bullish momentum, as seen in the Ethereum price today. As we go through the analysis, we explore patterns, how the Ethereum price trend reacted to them, and possible future scenarios in which the Ethereum price trend could trade. Without any further delay, let’s dive into Ethereum price analysis and see what’s going on.

Ethereum Price Analysis of the Last 24 Hours

At 01:15 UTC, a converging triangle formed on March 9 and broke out to the downside. A spike and range pattern was seen. The range again broke out to the downside and formed another range. This minor range broke to the upside, and a long-range was seen. The long-range tried to form a trend to the upside, but the upside breakout failed, and Ethereum broke out to the downside, forming another converging triangle.

Chart 1: Analysed by vallijat007, published on TradingView, March 9, 2025

At 06:10 UTC, RSI dropped below the level of 30, indicating an oversold market condition, which helped in the formation of a converging triangle. The converging triangle broke out to the downside at 07:45 UTC and formed an expanding triangle. The expanding triangle also broke out to the downside at 09:50 UTC, corroborated by a death cross in MACD.

Ethereum Price Struggles with Downtrend but Finds Support in a Channel

Price formed a range, which again broke out to the downside at 13:45 UTC, further corroborated by a death cross in MACD. This gave birth to another converging triangle. The converging triangle broke out again to the downside at 15:45 UTC, again corroborated by a death cross in MACD. In the meantime, RSI continuously marked oversold conditions, but instead of reversing, the market only pulled back in the form of patterns. A small support was seen in the price, which again broke out to the downside at 16:35 UTC for a spike and expanding triangle.

The expanding triangle broke out to the upside at 19:20 UTC, forming a range, which then broke out to the downside at 21:05 UTC, corroborated by a death cross in MACD. An expanding triangle formed after marking the low of the day at $1,990. The expanding triangle broke out to the upside at 00:45 UTC, further corroborated by a golden crossover in MACD. The price formed a channel. For now, Ethereum is trading in the channel. 

Ethereum Shows Bearish Pressure with Signs of Potential Reversal

Most of the patterns Ethereum formed broke out to the downside. If any pattern tried to break out to the upside, it failed. The two expanding triangles that developed both broke out to the upside, showing bullish momentum in Ethereum. Additionally, Ethereum formed a double bottom in the higher timeframe, increasing the chances of a reversal or at least a pullback. Traders and investors are encouraged to analyse the Ethereum price today by themselves because the market is subject to potential risk. Risk management and position sizing are the only keys to success in trading.