ETH/USD technical analysis: A downward move or a correction?

FXOpen Broker Team FXOpen

Over the weekend the price of Ethereum has fallen by 5.97% - from Friday’s open at $88.51 to Sunday’s low at $83.11.

Since the low, ETH/USD has started recovering and has come up to $99.27 on FXOpen which is an increase of 19.35% in the last three days.

On the hourly chart, the altcoin price retested the prior low level at $83.11 on Sunday for support, and since the price hit the area, the buying was activated and the price increased almost exponentially.

But since the ETH price increased fast with strong momentum and came up to the levels of the W wave ending point now, a correction occurred pushing the price lower again.

This whole move was a WXY correction as this Y wave recovery was predictable, so now it's expected that the price of Ethereum keeps falling down as a trend continuation should start.

If the price continues its downward trajectory the next horizontal level in line for a potential lower low scenario target would be at around $78.39. But we are yet to see if the price continues its downward trajectory or would this correction continue with two more waves.

Author

FXOpen Broker Team

FXOpen

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin rebounds after testing an intraday low at $60,000 amid persistent retail investor exit. Ethereum shows subtle signs of recovery, but ETFs outflows limit upside. XRP gains by over 10% on Friday amid mild ETF inflows and a drop in futures Open Interest to $2.40 billion.

Bitcoin Weekly Forecast: The worst may be behind us

Bitcoin price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.

Pi Network hits record low despite plans to deploy KYC validator rewards in March

Pi Network hovers above $0.1400 on Friday, up from the $0.1300 record low seen earlier in the day. The sell-off continues even as Pi Network has announced that it will distribute KYC validator rewards by the end of March.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.