Ethereum Price Analysis of March 12, 2025: Ethereum Fluctuates between $1960 and $1750, Is a Breakout Ahead?

After marking another 52-week low yesterday, the Ethereum price today attempted to recover from its downtrend. If you are tracking the Ethereum price trend and wondering whether Ethereum will hold its support level, then this analysis is for you. As we go through the Ethereum price analysis, we will explore different patterns and how the Ethereum price trend reacted to them. We will determine key support and resistance levels. Without any further delay, let’s dive into Ethereum price analysis and determine where Ethereum price today might trade.

Ethereum Price Analysis of the Last 24 Hours

In the early hours of March 11, Ethereum formed a rounding bottom, marking the low of the day at $1,754 at 00:50 UTC. RSI dropped below the level of 30, indicating an oversold market condition. At 01:30 UTC, a golden cross appeared in MACD, both suggesting a reversal or at least a pullback. The rounding bottom created a range at its upper end, and at 05:10 UTC, the price broke out from the range to the upside, forming a spike and a converging triangle pattern. RSI moved into the overbought area at the same time.

Chart 1: Analysed by vallijat007, published on TradingView, March 12, 2025

The converging triangle broke out to the downside at 09:55 UTC, but instead of forming a spike, a channel appeared in Ethereum’s price chart. At 13:05 UTC, RSI dropped below the level of 30, indicating an oversold market condition. A golden cross in the MACD supported the price’s upward breakout from the channel around 13:25 UTC, but the breakout was unsuccessful, and the price fell back to the channel’s lower trendline.

Ethereum Continues in a Narrow Downward Channel Amid Selling Pressure

Another golden cross in the MACD, indicating higher prices, emerged at 15:05 UTC. At 18:10 UTC, Ethereum’s expanding triangle pattern broke out to the upside. Meanwhile, the RSI entered the overbought zone, suggesting a reversal or, at the very least, a decline in price. As the price spiked from the expanding triangle after the breakout, it formed a spike and a converging triangle pattern.

The converging triangle broke out to the downside at 19:55 UTC, corroborated by a death cross in MACD. However, the breakout was not strong, and another converging triangle formed, which again broke out to the downside at 23:00 UTC, forming a spike and channel pattern. The channel attempted to break out to the upside but failed and formed a spike and channel pattern to the downside. As of now, Ethereum continues to move in a narrow channel to the downside.

Ethereum Faces Selling Pressure Amid Weak Recovery

Ethereum shows some bullish momentum after a weak recovery. However, the selling pressure is not over in Ethereum. If sellers return, Ethereum could revisit its previous lows. Ethereum may mark another 52-week low if it fails to hold its previous support or fails to spike to the upside strongly. Traders and investors are encouraged to analyze the Ethereum price chart by themselves, as the crypto market is subject to potential risk.