Ethereum Wave Analysis – 5 February 2025

- Ethereum reversed from the key support level 2200.0
- Likely to rise to resistance level 2890.00

Ethereum cryptocurrency recently reversed sharply from the key support level 2200.00, which has been reversing the price since the start of August, as can be seen below.

The upward reversal from the support level 2200.00 created the daily Japanese candlestick reversal pattern Hammer.

Ethereum cryptocurrency can be expected to rise to the next resistance level, 2890.00 (the former monthly low from January).