Log in

PRO
Market Direction

$2,420 ETH support in focus

Published: Feb 24, 2025
0
Share:

Ethereum faces rejection at $2,875 while funding rates remain mixed. With key support at $2,420, traders watch for either a breakout or further downside in the coming weeks.

Post Feature Image

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


ETH:

  • ETH's Open Interest has moved up from the lows very slightly, but it still remains well below the highs we saw before the flush out.
  • ETH's Funding Rate has fluctuated between positive and negative, indicating that traders have flip-flopped between Longing and Shorting.
ETH's funding rate:

3. Ethereum open interest-weighted funding rate chart, displaying fluctuations in trader sentiment and price correlation over time.

Technical analysis

  • ETH has bounced from the $2,500 level and it's moved up to the local horizontal resistance of $2,875, where it has (for now) rejected, as we expected it to. $2,875 to $3,050 is the resistance zone. For now, we expect this resistance zone to hold.
  • There is local support for ETH at $2,655, with the major support at $2,420.
  • We're now also seeing the formation of a local uptrend line (yellow line). A break below this line could propel a larger move to the downside.
  • The RSI has broken out of its main downtrend, it's moving higher and is using its moving average as support. This is one of the few elements of the TA.
4. Ethereum price action chart with Fibonacci levels, RSI trend, and major support-resistance areas for potential breakout or breakdown.
  • Next Support: $2,650 (then $2,420)
  • Next Resistance: $2,875
  • Direction: Bearish
  • Upside Target: $2,875
  • Downside Target: $2,420

Cryptonary's take

It's possible we see a positive outcome over the coming weeks, although we still favour the negative outcome (downside). The positive outcome would be price grinding into the main downtrend line and the horizontal resistance of $2,875, and then breaking out to the upside. The negative outcome is just a rejection into this converging resistance zone, and then the price makes new lows, likely at the $2,420 support.

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC $100k Target Hit, SFP Confirmed
PRO
Market Direction
BTC $100k Target Hit, SFP ConfirmedUpdate on our Nov 3rd/7th forecast: BTC moved exactly to our $100k-$102k target zone as predicted. W...
13 min read
Nov 10, 2025
Market Direction: At $100k - Your 7-Day Action Plan
PRO
Market Direction
Market Direction: At $100k - Your 7...Markets hit major support zones with BTC at the $100k level. Key altcoins face rejection; reversal o...
11 min read
Nov 7, 2025
Privacy Coins Lead the Way: Bullish Setups and Key Levels to Watch
PRO
Market Direction
Privacy Coins Lead the Way: Bullish...Privacy sector coins show bullish setups and key levels as they outperform during this crypto correc...
9 min read
Nov 4, 2025