Ethereum Price Crisis: $735 Support Test Looms! 🔥

Market Analysis Reveals Concerning Ethereum Price Patterns

In a shocking development for Ethereum investors, renowned crypto analyst Tony Severino has identified alarming similarities between ETH’s 2024 and 2025 price action, suggesting a potential descent to critical support levels. As previously reported regarding Ethereum’s $2K battle, the situation appears to be deteriorating further.

Technical Indicators Paint Bearish Picture

The analysis reveals several concerning technical signals:

  • 2024 candle showing lower highs on both close and wick
  • 2025’s bearish engulfing pattern consuming 2024’s candlestick
  • Yearly support identified at $735
  • Parabolic SAR indicating potential bottom at $370
  • TD Sequential count entering red 1, suggesting first-ever yearly downtrend

Historical Price Action Breaking Records

Ethereum has broken unprecedented ground in 2025, recording negative monthly closes in both January and February – a first in its history. The recent drop below $2,000 marks the lowest point since December 2023, though prices have since recovered slightly to $2,176.

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Potential Recovery Signals

Despite the bearish outlook, some analysts see potential recovery paths:

  • Two unfilled CME futures gaps above $2,500
  • First gap: $2,540-$2,620
  • Second gap: $2,900-$3,300
  • Historical tendency for CME gaps to fill

Market Implications and Future Outlook

While the immediate technical picture appears bearish, it’s crucial to note that we’re still early in the yearly candle with ten months remaining. Traders should monitor key support levels and CME futures gaps for potential trading opportunities.

The current market structure suggests a critical period ahead for Ethereum, with the potential for significant price movement in either direction. Investors should maintain strict risk management practices given the heightened volatility.