Ethereum price trims weekly losses to 11% as ETH inflows to Bybit surge
On the way ETH resistance level $2550
Ethereum (ETH) price has staged a partial recovery, regaining 6% of its recent price dip. ETH rebounded from $2,333 to trade above the $2,450 support level, reducing this week overall loss from 17% to 11%, but key resistance at $2,550 now stands in the way of further gains.
Ethereum’s price movement comes as Bybit’s ETH reserves significantly recovered in the wake of the recent exchange hack. Bybit’s ETH holdings have now climbed back to 372K ETH, with nearly 60% of the replenished supply coming from brokers and other exchanges. Binance contributed 32%, while Bitget provided 8% of the restored funds. Bybit also received a substantial $600 million in Ethereum deposits via Mirana Ventures, according to Arkham Intelligence.
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Due to the sharp increase in ETH inflows to Bybit following the hack, the average ETH inflow per transaction has surged from 8.8 ETH before the incident to 1.2K ETH. This influx suggests that large market participants acted quickly to stabilize Bybit’s reserves, potentially reducing broader market uncertainty.
Ethereum price forecast: Recovery stalls near key $2,550 resistance
Ethereum price dynamics (Feb 2025). Source: TradingView
Ethereum price recovery now faces a critical test at a former support zone that previously held during the last two weeks of consolidation. As of Wednesday, February 26, Ethereum is trading near $2,470 in the late European trading hours. Technical indicators suggest that bullish momentum may be limited in the near term. The 4-hour RSI has moved out of the oversold zone but remains in bearish territory, signaling the potential for further downside pressure.
Looking ahead, Ethereum’s ability to break above the $2,550 resistance level will be key in determining its next directional move. A rejection at this level could see the price retesting lower support zones, while a breakout could shift market sentiment toward further recovery. Traders will closely watch ETH’s interaction with this price level alongside broader market conditions to gauge the next potential move.
Ethereum broke below its two-week consolidation, dropping over 17% early this week. The decline was driven by macroeconomic pressures and U.S. tariffs, which weighed on risk assets.
