Ethereum (ETH) Price Prediction for February 17
Can ETH Reclaim $3,000?
Ethereum (ETH) is at a crucial price level after facing rejection earlier this month. The cryptocurrency saw a sharp decline but has shown signs of recovery. Will Ethereum price today regain strength and push past $3,000, or is further correction ahead? Let’s analyze the key factors.
Ethereum Price Struggles to Stay Above $3,000
On February 1, ETH price faced rejection near its descending trendline, leading to a 13.87% drop below the $3,000 mark. The correction continued with an additional 9% decline in the following week. However, Ethereum saw a slight 1.3% recovery last week, bringing its current price to around $2,670.
For Ethereum price prediction in February, bulls need to regain momentum. If ETH holds above current levels, it could retest the $3,000 resistance zone.
Technical Indicators Show Mixed Signals
RSI Indicator: The daily RSI is at 38, rebounding from oversold levels. However, ETH needs to push above 50 to confirm a strong uptrend.
MACD Crossover: A bullish crossover on the MACD suggests possible upside movement in the coming days.
Support and Resistance Levels: If ETH price drops below $2,359, it may fall further to the next key support at $1,905.
Also Read: Axie Infinity Price Prediction 2025, 2026 – 2030: Will AXS Price Hit $10?
Ethereum Liquidation Risks
Over-leveraged long positions could trigger mass liquidations if ETH falls further.
$72 million in long positions at $2,657 will face liquidation if ETH drops below this level.
$275 million in long positions at $2,730 are at risk if ETH fails to stay above it.
This high leverage could add selling pressure, impacting short-term Ethereum price prediction.
Long-Term Ethereum Price Prediction
Despite short-term volatility, Ethereum’s long-term outlook remains positive. Analysts predict that Ethereum price prediction for 2025 could see significant growth, fueled by institutional adoption and network upgrades.
By 2030, Ethereum price prediction suggests a strong potential for breaking previous all-time highs, driven by mass adoption and technological advancements.
Ethereum price today faces strong resistance at $3,000, with key support at $2,359. While technical indicators hint at a possible recovery, liquidation risks remain high. Traders should watch key levels closely as ETH navigates its next move.