Ethereum's 2024-25 Price Action: Bearish Engulfing and Downtrend Signals

Ethereum's price action in 2024 and 2025 has been a subject of intense scrutiny among crypto analysts, with important technical indicators providing valuable insights into the cryptocurrency's future trajectory. In an X post, crypto analyst Tony Severino highlighted key technical indicators and their implications for Ethereum's price action in the coming years.

Severino's analysis focused on Ethereum's price action in 2024 and 2025, using a Japanese candlestick, TD Sequential, and Parabolic SAR analysis. He noted that the 2024 candle made a lower high on both a candle close and wick high basis, while the 2025 candlestick is currently a bearish engulfing pattern, fully engulfing the 2024 candle and entering the 2023 candle body. The yearly support is drawn at $735, with the Parabolic SAR at $370, and the TD Sequential count on a red 1, potentially signaling the start of Ethereum's first-ever yearly downtrend.

Ethereum's price has been in a downtrend, dropping below $2,000 for the first time since December 2023. Although ETH has since recovered above this psychological level, concerns remain about its current price action. Crypto analyst Ali Martinez warned that Ethereum's price could still drop to as low as $1,600 or even $1,200, having broken below the lower boundary of a parallel channel.

Despite these concerns, some analysts remain optimistic about Ethereum's prospects. Crypto analyst Titan of Crypto asserted that Ethereum's bottom is in, with the 2024 low having been swept on ETH's perpetual daily chart. The analyst believes that the Ethereum price could still come close to or even reach its current all-time high (ATH). In the short term, the Ethereum price is expected to rebound, with two ETH CME futures gaps remaining unfilled above $2,500.

As of March 4, 2025, the ETH/BTC ratio stands at 0.0245, indicating a significant shift in the cryptocurrency market dynamics. Analysts predict that Ethereum could reach new all-time highs in 2025, depending on the overall