Ethereum Price Slumps 11% As Traders Buy This Crypto Wallet

Ethereum (ETH/USDT) is currently hovering around a major support zone near $2,232 – $2,433, an area that has strongly supported price consolidation and potential rebounds. The market indicates a bearish bias, as seen by the breakdown from a descending channel (or “bearish channel”) and a failure to sustain momentum above resistance levels.

Despite these bearish signals, the support in this region remains critical, and the price reaction here will likely shape Ethereum’s trajectory over the coming days and weeks. A key point of interest is the Relative Strength Index (RSI), now near 34.47, approaching oversold territory.

The $2,232 – $2,433 zone is a pivotal point. If buyers manage to defend this region, Ethereum may attempt a rebound, with the first major upside target around $2,800, where recent price action has encountered selling pressure.

ETHUSDT Analysis Source: Tradingview

Beyond that, $3,200 is a stronger resistance level, reflecting prior peaks and a significant pivot area. A decisive move above $3,200 could signal a more pronounced bullish reversal, potentially attracting fresh buying interest and triggering a new leg up.

Conversely, a breakdown below $2,232 would weaken the market’s structure and could invite additional downside toward $2,000 or even lower, as stop-loss orders get triggered and selling accelerates. In such a scenario, traders might look to lower support zones around $1,800 – $2,000 for potential accumulation, but sentiment would likely remain cautious until the market shows signs of stabilization.

A short-term bearish structure (descending channel break) versus a long-term consolidation support zone could spark a rebound if defended successfully. The RSI reading further underscores the possibility of a short-term bounce, but follow-through buying will be crucial to confirm any meaningful reversal.

Best Wallet Presale Zooms Past $10.5 Million – Next Crypto To Explode?

Even as the Ethereum price plunges, investors are flocking to buy the Best Wallet (BEST) presale, which has already raised over $10.5 million in funding.

Best Wallet is a vast digital asset management platform supporting over 60 blockchains that allow users to manage multiple Web3 wallets securely.

🚀 Tokens of the Week 🚀

Here are three trending tokens making waves right now:

🔹 $WEPE
🔹 $SHADOW
🔹 $OM

Are you holding any of these? Let us know. 👇👀 pic.twitter.com/7XIqBSoTra

— Best Wallet (@BestWalletHQ) February 21, 2025

One standout feature is its Upcoming Tokens section, which flags the hottest presales in the market to customers. It’s established a good track record, recommending early meme coins like Catslap (SLAP) and Pepe Unchained (PEPU), which both delivered huge returns to early investors.

Its latest recommendation is BTC BULL Token (BTCBULL), a new meme coin that is giving away Bitcoin to token holders via milestone-based airdrops when the Bitcoin price hits new all-time highs.

Crypto analyst and YouTuber Crypto Gains, who has over 141K subscribers, predicts that BEST could surge 10X following its launch.