The current Ethereum ETH market touches new lows today along with most cryptocurrency assets. The market price of ETH reached $2,674.30 during February 24, 2025 because it decreased by 4.36% compared to the previous day’s trading session. The market data shows intense selling events due to the ETH price decreasing by $121.80 throughout yesterday. The maximum price point reached in the trading day reached $2,835.39 yet the lowest point fell to $2,667.85.
Market turbulence has led investors to monitor exchange hack reports and macroeconomic factors along with technical indicators to forecast Ethereum price movements throughout this day.
Key Factors Impacting Ethereum’s Price Today
Bybit Hack Causes Investor Concerns
Ethereum lost value today mainly because hackers took $1.5 billion from Bybit. ETH holders sold off their assets because attackers stole money from Ethereum-based wallets which made owners feel their assets remain unsafeguarded. The hacking incident forced traders to reassess security risks on exchanges and change their trading behavior.
These security breaches caused temporary crypto value reductions across history. Hacks on exchanges including Mt. Gox and FTX in the past generated strong sell-off activity from investors across the market. Although smaller than other incidents this security breach still changes market perception and creates more price instability.
Broader Crypto Market Downtrend
The value of Ethereum slides alongside most digital coins in this market downturn. Since Friday BTC dropped below $50,000 which caused major altcoins to follow ETH’s price decline. The Bitcoin price decline typically spreads throughout the crypto market and pulls ETH with it.
Global financial market instability makes investors avoid buying risky assets such as cryptocurrencies. The cryptocurrency market declines and worries about interest rate policies create fear among traders. Both retail and professional traders have decided to dispose of their ETH holdings which has made ETH prices drop.
Ethereum Network Activity & Future Developments
Although Ethereum’s price has decreased currently its blockchain network keeps recording high traffic levels. People continue to invest in DeFi applications NFT transactions and staking activities since they see the blockchain ecosystem holding strong in the future.
The Ethereum market may receive price enhancements through the official review of an ETF based on this cryptocurrency. SEC is about to determine whether they should approve several applications for Ethereum ETFs. Institutional buying interest would increase when the Ethereum ETF gets approval, thus increasing ETH value. The current market conditions show that positive changes from ETF would take time to develop.
Ethereum Technical Analysis
Support & Resistance Levels
The ETH market tests its key defense zone around $2,650. A recovery phase may occur based on this support defense. There are three major support lines for Ethereum: $2,600 followed by $2,500 and then $2,650.
Two thousand and seven hundred and fifty dollars acts as resistance for Ethereum. The cryptocurrency will face major resistance from $2,800 on its road to $2,900 as the primary entry point for buyers.
Technical Indicators Show Bearish Momentum
Ethereum sits at 42 on its Relative Strength Index which means traders feel neither strong support nor opposition toward the market. The selling activity for Ethereum outweighs buying activity when the RSI value stands below 50.
The Moving Average Convergence Divergence (MACD) shows ETH is moving downward since its trendlines crossed below indicating a possible price decrease until market buyers appear. The current market action confirms that Ethereum markets have downward pressure as it trades below its 50-day moving average at $2,730. ETH likely will bounce back at $2,500 because its descending 200-day moving average provides fundamental resistance.
Ethereum Price Prediction
ETH trading will fluctuate today between $2,620 and $2,750 based on future market activity. ETH may bounce back toward $2,700-$2,750 when $2,650 acts as its floor. The ETH price may hit new lows near $2600 or $2550 if sellers keep pushing the market down.
Ethereum tends to rise when it withstands $2,750 and continues moving above $2,800. The Bitcoin market needs to recover in combination with better market sentiment after the Bybit security breach for Ethereum to improve.
Market participants need to keep watching real-time marketplace data plus watch out for news that affects Ethereum prices. ETH movement will depend on its ability to hold critical support zones and market changes occurring throughout today.
Conclusion
Ethereum faces ongoing market difficulty and security issues push its price lower. The Ethereum price path ahead will depend on what happens when it reaches $2,650 support and $2,750 resistance. When Bitcoin shows recovery signs buying pressure becomes less likely. Market participants need to watch the current events carefully because Ethereum’s value depends on how long the current market unrest lasts.
