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Ethereum price is approaching a key technical level that has historically acted as a barrier to upward price movement. According to recent technical analysis, this resistance zone has triggered past reversals, and analysts caution that another failure to break above could lead to a downward correction. The altcoin is trading within a descending channel, a pattern typically associated with bearish trends. While some analysts remain optimistic about a potential rebound, others warn that the next move could push ETH price lower, targeting a key support of $1,700.

Analysts Warn of Ethereum Price Potential Fall to $1,700

According to a recent analysis, Ethereum price is nearing a resistance zone at $2,200. This level coincides with the upper boundary of a Descending Channel. Technical analysts consider this pattern bearish. Price movements within the channel have shown lower highs and lower lows, indicating downward pressure.

Crypto analyst MadWhale shared a chart showing Ethereum trading close to this critical resistance. Previous interactions with this level have led to downward reversals. The analyst suggests that failure to break this zone may trigger a 13% decline. The projected target is $1,700, a level that has previously served as support.

More so, another recent analysis shows that ETH/BTC is currently testing a critical support zone last seen in late 2020, raising the possibility of a trend reversal after years of decline. This technical setup, combined with record-high futures open interest of 10.23M ETH, signals a rising potential for a rebound.

Technical Indicators Support a Bearish Outlook

The Ethereum price chart also shows weakening bullish momentum. A rounded top pattern is forming near the resistance. This technical formation suggests that buying pressure is declining. Volume analysis reveals that trading activity is inconsistent, with low participation during recent gains and higher volume during declines.

Lower highs on the daily chart further support a potential downward continuation. These are typical in bearish trends. Traders are advised to monitor for signs of increased selling pressure. Confirmation of a rejection, such as a bearish candlestick pattern or rising sell volume, could strengthen the case for a decline toward $1,700.

According to the Moving Average Convergence Divergence (MACD), ETH is currently showing signs of waning bearish momentum as the MACD line is approaching a bullish crossover with the signal line. If this crossover occurs and is supported by increasing histogram bars, it could indicate a potential price rebound for the top altcoin.

Alternate Scenario: Analyst Forecasts Bullish Targets 

While bearish indicators persist, some market observers maintain a positive view. Analyst Patron has outlined three possible bullish price targets. According to his analysis, if the top altcoin holds support near $1,980, a short-term rally could occur. His initial target is $2,296, reflecting a potential increase of over 15%.

Further upside targets include $2,913 and $4,000. These projections assume that current support holds and momentum shifts in favor of buyers. The analyst’s outlook is based on Ethereum price recovering from recent lows and reclaiming previous highs. This scenario would challenge the bearish narrative if confirmed by increased volume.

At press time, the crypto is trading at $1,999.75, marking a 1.20% gain over the past 24 hours. Despite the price uptick, trading volume has dropped sharply by 37.37%, indicating a possible divergence.

The post Ethereum Price Eyes Key Resistance as Analysts Warn of Drop to $1,700 appeared first on CoinGape.

The post Ripple News: XRP Trading Volume Hits $16B But On-Chain Metrics Fall appeared first on Coinpedia Fintech News

XRP is witnessing a strong comeback in early 2025, with average daily spot trading volumes reaching $3.2 billion and spiking over $16 billion during peak periods in January and February. Despite this impressive momentum, concerns are rising over a sharp decline in on-chain activity — suggesting a growing disconnect between market hype and actual blockchain utility.

XRP Price and Trading Trends in Q1 2025

Over the past year, XRP has delivered a stunning 298.8% gain, including a 26.9% jump in the last 30 days alone. Notably, between January 10 and 17, XRP surged by 44.89%, hitting a local peak of $3.4 on January 16. As of today, XRP is up 2.5%, trading around $2.14.

The spike in trading volume reflects strong interest from both institutions and retail traders. Investment products tied to XRP have also attracted $214 million year-to-date — a clear sign of growing investor confidence.

Growing Role of USD and Stablecoins

A post from Ripple Pundit highlights that fiat and stablecoin trades involving XRP rose from 25% to 29%, indicating increased interest in regulated, fiat-linked trading pairs.

But Network Fundamentals Are Weakening

While market activity is strong, XRP’s on-chain metrics are deteriorating. XRP Ledger transactions have fallen 37.06%, while new wallet creation dropped over 40.28%. In addition, daily trading volume has declined by over 86% in the last six months, signaling possible short-term fatigue or profit-taking.

SEC Exit and ETF Hopes Keep Bulls Confident

Investor optimism remains buoyed by positive regulatory developments. The U.S. SEC has dropped its appeal against Ripple, opening the door for a possible settlement. Meanwhile, speculation is building around a potential XRP Spot ETF approval in the near future — a move that could fuel another major rally in 2025.

The post Ripple News: XRP Trading Volume Hits $16B But On-Chain Metrics Fall appeared first on Coinpedia Fintech News
XRP is witnessing a strong comeback in early 2025, with average daily spot trading volumes reaching $3.2 billion and spiking over $16 billion during peak periods in January and February. Despite this impressive momentum, concerns are rising over a sharp decline in on-chain activity — suggesting a growing disconnect between market hype and actual blockchain …