Ethereum (ETH/USD) Key trading levels, The Week Ahead 03rd March

Ethereum (ETH/USD) remains in a bearish trend, aligned with the longer-term prevailing downtrend. The price action suggests continued selling pressure, with critical resistance and support levels defining the next move.

Key Technical Levels
Immediate Resistance: $2,490 (previous support, now acting as resistance)
Major Resistance Levels:
$2,634
$2,785

Key Support Levels:
$2,100
$2,016
$1,906

Bearish Scenario: Rejection at $2,490
If ETH fails to break above $2,490, it would confirm the resistance level’s strength.
A bearish rejection from this zone could lead to renewed selling pressure.
Downside targets include $2,100, followed by deeper support at $2,016 and $1,906 over the longer timeframe.

Bullish Alternative: Breakout Confirmation
A daily close above $2,490 would invalidate the immediate bearish outlook.
A sustained breakout could trigger an upward move toward $2,634 as the next resistance level.
A continuation of buying momentum could lead to a rally toward $2,785, reinforcing a potential shift in market sentiment.

Conclusion
ETH/USD remains bearish unless it can reclaim and hold $2,490 as support. A rejection from this level could extend the downtrend, while a breakout above resistance would signal a potential trend reversal. Traders should monitor price action closely around these levels for confirmation of the next move

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