Ethereum price started a recovery wave above the $2,650 zone. ETH is showing positive signs and might aim for a move above the $2,880 resistance.

• Ethereum started a decent upward move above the $2,650 zone.
• The price is trading below $2,850 and the 100-hourly Simple Moving Average.
• There was a break above a short-term declining channel with resistance at $2,780 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh decline if it stays below the $2,880 level.

Ethereum Price Recovery Gains Pace

Ethereum price started a recovery wave after it dropped heavily below $2,500, underperforming Bitcoin. ETH tested the $2,120 zone and recently started a decent upward move.

The price was able to surpass the $2,550 and $2,650 resistance levels. It even climbed above the 50% Fib retracement level of the downward wave from the $3,400 swing high to the $2,120 swing low. There was also a break above a short-term declining channel with resistance at $2,780 on the hourly chart of ETH/USD.

Ethereum price is now trading below $2,850 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,840 level and the 100-hourly Simple Moving Average.

The first major resistance is near the $2,880 level. The main resistance is now forming near $2,920 or the 61.8% Fib retracement level of the downward wave from the $3,400 swing high to the $2,120 swing low. A clear move above the $2,920 resistance might send the price toward the $3,000 resistance.

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,250 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $2,840 resistance, it could start another decline. Initial support on the downside is near the $2,700 level. The first major support sits near the $2,640 zone.

A clear move below the $2,640 support might push the price toward the $2,550 support. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,640

Major Resistance Level – $2,880

Ondo Finance (ONDO) price has shown little movement in the last 24 hours. Yet, its long-term growth remains impressive, with a 519% increase over the past year. As one of the biggest Real-World Assets (RWA) players in the market, ONDO has attracted strong interest from both retail and institutional investors.

While RSI has recovered from oversold levels and whale holdings have reached all-time highs, ONDO remains in a consolidation phase with its EMA lines closely positioned. Whether it forms a golden cross for a bullish breakout or faces further downside pressure will depend on upcoming market momentum and investor activity.

ONDO RSI Is Currently Neutral, Recovering From Oversold Levels

ONDO Relative Strength Index (RSI) is currently at 54.7, a sharp recovery from 20.6 just two days ago. This significant rebound indicates that buying pressure has returned after ONDO was previously in deeply oversold conditions.

An RSI below 30 typically suggests that an asset is oversold and could be due for a bounce, which aligns with ONDO’s recent surge.

Now that RSI has moved above 50, momentum appears to be shifting in favor of buyers, though it remains in a neutral zone rather than strongly bullish.

RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100. Readings above 70 suggest overbought conditions and potential for a pullback, while readings below 30 indicate oversold conditions and possible price recovery.

With ONDO’s RSI now at 54.7, the asset is in a neutral-to-bullish zone, suggesting that it still has room to climb if buying momentum continues.

If RSI pushes above 60, it could indicate stronger bullish momentum, but if it stalls or declines, ONDO price may consolidate before making its next move.

ONDO Whales Are Reaching All-Time Highs

The number of whales holding between 1,000,000 and 10,000,000 ONDO has dropped slightly from 193 to 190 on the last day. However, despite this minor decline, the overall number of ONDO whales has been steadily increasing since January 12, when there were only 120.

This long-term growth suggests that whales have been accumulating ONDO, reflecting increasing confidence in the asset. Even with the recent dip, these whale holdings remain at their highest levels ever, indicating strong interest in RWA from major investors.

Tracking whale activity is crucial because large holders can influence price movements through accumulation or distribution. A rising number of whales typically signals strong institutional or high-net-worth investor confidence, which can provide price stability or fuel bullish momentum.

While the slight drop from 193 to 190 suggests some short-term distribution, the overall trend remains positive. If whale numbers continue to grow, ONDO price could see further upside, but if more whales begin to sell, it might lead to increased volatility or price corrections.

ONDO Price Prediction: Will A Golden Cross Form Soon?

ONDO is currently one of the largest RWA coins in the market, with a market cap of around $4.5 billion. Its EMA lines are very close to each other, indicating a period of consolidation since yesterday.

If the short-term EMAs cross above the long-term ones, it would form a golden cross, a bullish signal that could push ONDO toward the $1.53 resistance. A breakout above this level could fuel further momentum, with the next target at $1.66.

On the other hand, if ONDO fails to establish an uptrend, it may face downside pressure. A drop to the $1.25 support could be the first sign of weakness, and if that level breaks, ONDO could decline further toward $1.00.

Given the current consolidation, the market is at a critical point, and the next major move will determine whether ONDO resumes its bullish trend or enters a deeper correction.

FTX Token (FTT) price is up following news that the exchange will begin payments to Bahamas creditors on February 18. Despite this positive development, FTT is still fighting to maintain levels above $2 as technical indicators show mixed signals.

While RSI has recovered from oversold conditions and bullish momentum is building, ADX remains weak, suggesting that trend strength is not yet fully established. If FTT can break key resistance levels, it could push toward $3. However, a failure to hold current support may lead to a deeper pullback.

FTT Downtrend Is Losing Its Steam, But the Uptrend Is Still Consolidating

FTT DMI chart shows that its ADX has dropped to 23.4, down from 41 just four days ago. This decline suggests that the strength of the previous downtrend is weakening.

ADX measures trend intensity but does not indicate direction. That means that while FTT is attempting to form an uptrend, the lower ADX suggests the momentum behind this move is not yet strong.

If ADX falls further below 20, it could indicate consolidation, while a rebound above 25 would signal a strengthening trend.

ADX is a key part of the Directional Movement Index (DMI) that tracks trend strength. Values above 25 indicate a strong trend, and readings below 20 suggest weak or indecisive price action.

Meanwhile, FTX Token +DI has surged to 27.7 from 14.1 in just one day, signaling increasing bullish pressure, while -DI has dropped from 26.5 to 15.3, showing that bearish momentum is fading.

This crossover, where +DI moves above -DI, supports the case for an uptrend. If ADX starts rising again, FTT could see a stronger bullish continuation, but if ADX remains weak, the price may struggle to gain momentum.

FTT RSI Is Rising Fast

FTT’s Relative Strength Index (RSI) is currently at 59.2, up significantly from 22 just three days ago, after the announcement that FTX will start paying Bahamas creditors from February 18.

This sharp increase suggests that buying pressure has returned after FTT was in oversold conditions. An RSI below 30 typically signals that an asset is oversold and due for a rebound, which aligns with FTT’s recent price recovery.

Now approaching the 60 level, momentum is turning more bullish, though FTX Token still needs to push higher to confirm a strong upward continuation.

RSI is a momentum indicator that measures the strength and speed of price movements on a scale from 0 to 100. Readings above 70 suggest an asset is overbought and may be due for a pullback, while readings below 30 indicate oversold conditions and a potential price recovery.

With FTT’s RSI now at 59.2, it is nearing overbought territory but still has room to climb. If RSI crosses above 60, it could indicate further bullish momentum. However, if it starts declining, FTT may consolidate before making its next move.

FTT Price Prediction: Can FTT Rise to $3 In February?

FTX Token’s EMA lines show that its short-term moving averages are still below the long-term ones but are gradually moving upward. If they cross above the long-term EMAs, it will form a golden cross. This is a bullish signal that could push FTT toward the next resistance levels at $2.32 to $2.44.

A successful breakout above these levels could open the door for a further move to $2.77. Additionally, speculation around Donald Trump potentially pardoning FTX co-founder Sam Bankman-Fried could trigger a surge in FTT’s price, pushing it toward $3 or even $4.

On the other hand, if FTT price fails to establish an uptrend, it may struggle to hold its current levels. A drop toward the $1.89 support could indicate weakening momentum. If that level is lost, the token could fall as low as $1.50.

With EMA lines still in a bearish setup, the market remains at a critical point where either a confirmed breakout or a deeper pullback could unfold.