Ethereum Technical Analysis Report

Ethereum Technical Analysis Report

On Feb. 24, Ether’s price declined by 5%, despite reports that the crypto exchange Bybit had purchased $740 million worth of ETH from the open market. Many traders had anticipated a price recovery following the Feb. 21 hack, expecting Bybit’s acquisitions—potentially aimed at covering losses—to drive prices higher. However, this failed to materialize. Additionally, Ether futures open interest fell from 8.82 million ETH on Feb. 23 to 8.52 million…

The cryptocurrency market has witnessed significant events in recent weeks, especially in relation to Ethereum (ETH). The recent attack on the exchange Bybit, which resulted in the theft of more than $1.4 billion in ETH, has generated uncertainty among investors and has influenced the volatility of Ethereum’s price. This article provides a detailed analysis of the possible directions that ETH’s price could take, considering technical, fundamenta…