Ethereum Price Prediction – March 18

The Ethereum price prediction needs to cross above the $3000 resistance level quickly to deny the bears the opportunity to step back into the market.

ETH/USD Market

Key Levels:

Resistance levels: $3500, $3700, $3900

Support levels: $2300, $2100, $1900

Ethereum Price Prediction
ETHUSD – Daily Chart

ETH/USD is currently hovering above $2900 as the coin prepares to gain more bullish signals. The movement to the upside may not allow the coin to bow to the selling activity going on in the market. However, Ethereum (ETH) is trading above the 9-day and 21-day moving averages. In the short term, bearish momentum is very likely especially if the bulls fail to hold the price above the $3000 level.

Ethereum Price Prediction: Would Ethereum (ETH) Continue Higher?

The Ethereum price may need to rise and break above the upper boundary of the channel before resuming the previous bullish trend but may remain beneath for a while until the 9-day MA crosses above the 21-day MA. Therefore, if the sellers push lower, traders can expect very strong support at $2700; this could then be followed up with another support at $2500. If the bears push further below, additional supports may be located at $2300, $2100, and $1900.

In the meantime, if the buyers continue with the bullish movement, the first level of resistance could be found at $3100. Further bullish movement could hit the potential resistance levels at $3500, $3700, and $3900 while the Relative Strength Index (14) moves to cross above 60-level to indicate a bullish movement.

Cloudbet bonus

When compared with Bitcoin, the Ethereum price keeps trading above the 9-day ad 21-day moving averages as the market heads to the upside. ETH/BTC is currently trading at 7060 SAT and the coin prepares to cross above the upper boundary of the channel. However, if the price drops and move towards the lower boundary of the channel, the next key support may come at 6300 SAT and below.

ETHBTC – Daily Chart

However, a continuous bullish movement could push the market above the channel, a break above this barrier may enable the Ethereum price to reach the resistance level of 7700 SAT and above as the Relative Strength Index (14) moves to cross above 60-level, which shows that the market might experience further bullish movement.

Looking to buy or trade Ethereum (ETH) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more:



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here