Ethereum price analysis: ETH/USD flirts with 61.8% Fibo, while John McAfee sees ETH as buying opportunity

John McAfee sees Ethereum as a buying opportunity at current levels.
ETH/USD needs to get back above long-term downside trendline to improve the technical picture.

Tanya Abrosimova Independent Analyst

Ethereum price came back towards 61.8% Fibonacci retracement level $723.00, having recovered from Sunday lows reached at $661.94. The coin moves in lockstep with broad cryptocurrency market, which has been experiencing an upside correction from the recent crash.

While the coin has been moving within the long-term downside trend since mid-January, some crypto enthusiasts believe that it is unjustly undervalued. Thus the renowned crypto proponent John McAfee called Ethereum dip irrational.

"The most irrational dip is Ethereum. Which of us engaged in the day to day payments and receipts in the crypto world do not favor Eethereum? We all know it is the only truly functional platform .... yet, please God, look at the price! This is an opportunity if I ever saw one" - he wrote on his Twitter account.

Ethereum price technical picture

The longer-term Ethereum technical picture looks gloomy as it needs to move clearly above 61.8% Fibonacci retracement and retake the long-term downside trendline, currently at $750.00. Once this level is passed, $800 resistance will come into focus. On the downside, the first support is produced by $700 and flowed by 661.94 (Sunday low).

ETH/USD, the daily chart

Author

Tanya Abrosimova

Independent Analyst

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

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: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.