Ethereum Price Prediction – March 23
The Ethereum price prediction is likely to break above the $3200 barrier as the coin faces the upper boundary of the channel.
Resistance levels: $3700, $3900, $4100
Support levels: $2300, $2100, $1900
ETH/USD is refreshing to a new high after touching the daily low of $2920 to move above $3000 while currently trading at $2974 with a bullish crossover above the 9-day and 21-day moving averages. On the other hand, the bears may likely increase the selling pressure if the market price cross below the moving averages but the bulls may collect more on the price dips.
Ethereum Price Prediction: ETH Price Ready to Push Higher
The Ethereum price can only begin the uptrend if the current market movement maintains the movement above the moving averages. Currently, the technical indicator Relative Strength index (14) is likely to cross above 60-level by sending bullish signals into the market which could encourage more buyers to enter the market. However, the Ethereum (ETH) may now cross above the upper boundary of the channel to gain additional bullish movements.
However, in as much as the red-line of 9-day MA remains above the green-line of 21-day MA, the coin may continue to do well, and the Ethereum price hit the resistance levels at $3700, $3900, and $4100 respectively. In other words, if the second digital asset decides to make a quick turn below the 21-day moving average, there may be a quick bearish drop which could roll the market back to the critical supports at $2300, $2100, and $1900.
Compared with Bitcoin, Ethereum is trading above the 9-day and 21-day moving averages as the price hovers at 7037 SAT. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above 60-level if the bulls put more effort. Moreover, for the fact that the 9-day MA remains above the 21-day MA, the market price may follow an upward movement.
Moreover, the daily chart reveals that the potential resistance level is located at 7700 SAT and above, but a lower sustainable move may likely cancel the bullish pattern and attract new sellers coming into the market with the next focus on the support level of 6400 SAT and below.
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