Ethereum Price Analysis of March 6, 2025: Ethereum Rises from $2155 to $2295: How Long Does This Bullish Momentum Sustain?

If you are tracking Ethereum and are surprised by the bullish momentum of Ethereum as Ethereum rises, followed by volatile spikes in both directions in recent days, then you are at the right place. As we go through the Ethereum price analysis, we explore why Ethereum is currently moving upward, its critical support and resistance levels, and the possible market scenarios in the coming sessions. Without any further delay, let’s dive into Ethereum price analysis and see what’s going on with Ethereum price today.

Ethereum Price Analysis of the Last 24 Hours

At 01:20 UTC on March 5th, Ethereum broke out from a downward-moving channel to the upside, but Ethereum failed to form a channel after the initial spike from the breakout. It formed an expanding triangle, which broke out to the upside at 06:45 UTC, marking the high for the day at $2272. At 07:00 UTC, RSI moved above the level of 70, indicating an overbought situation in the market. As the price moved up in the expanding triangle pattern, it formed a divergence with RSI. A death cross of MACD at 10:45 UTC further corroborated the breakout of the expanding triangle to the downside. The price formed a spike and channel pattern.

Chart 1 – Analysed by vallijat007, published on TradingView, March 5, 2025

Another divergence appeared in the price with RSI at 14:55 UTC and 16:35 UTC, suggesting a reversal or at least a pullback in the price. A golden crossover at 16:55 UTC further corroborated the divergence in the price and RSI, pushing the price upward toward the resistance level of $2,275. The spike from the divergence formed a small range, which broke out to the upside at 18:50 UTC, supported by a golden crossover of MACD.

The price spiked, and a channel was formed. The death cross of MACD at 21:20 UTC supported the creation of a channel. The channel broke out to the upside at 01:40 UTC, and a range was formed at the resistance level at 01:45 UTC. RSI moved to the overbought area, suggesting a reversal or at least a pullback. The pullback came in the form of a range.

Short-Term Rise Amid Higher Timeframe Bearish Pressure

Ethereum price today is trading above the resistance level. Ethereum may form a spike to the upside, but don’t be overly enthusiastic in this situation, as Ethereum is currently in a downtrend in the higher timeframe. If the price spikes, it could be a great opportunity and a favorable price for sellers to sell. So before buying above or at the spike, take a proper look at the price chart of Ethereum.

If the resistance pushes the market down, the recent support might hold the price. However, if selling pressure in the higher timeframe increases, Ethereum could push down to its 52-week low. Ethereum price analysis suggests that while the short-term trend shows an Ethereum rise, caution is needed as the higher timeframe still indicates bearish pressure. Traders should closely monitor key levels before making any decisions.