Technical analysis by rylee2267 about Symbol ETH on 3/23/2025

Current Price: ETH is at $1,955.56, up 4.66% this week, but the chart shows a significant decline from its peak around $2,800 in late 2024.Ichimoku Cloud: The price has broken below the Ichimoku Cloud, a bearish signal. The Tenkan-sen (red line) and Kijun-sen (blue line) have crossed bearishly, and the Chikou Span (lagging line) is below the price, confirming the downtrend. The cloud ahead is thinning, which could indicate a potential trend shift if the price reclaims it, but for now, the bearish momentum is dominant.Trendline: There’s a long-term ascending trendline (white line) that ETH has respected since mid-2024. The price is currently testing this trendline around the $1,900–$2,000 level, which could act as a critical support.