Ethereum Price Analysis & Prediction (March 7th) – ETH Faces Crucial Support After 5% Falls, Can it Breakthrough?

2023-3-13 09:07

Ethereum went through a lot of squeezes in late February and closed bearish. The price continued to drop this month and has lost almost 7% in the last 72 hours of trading.

By this time last week, Ethereum saw a recovery at $1,560 and pushed higher to test January’s resistance of $1,678 on Thursday. It saw a rejection there and sold off heavily yesterday.

This sell-off brought the price back to the last week’s recovery level and continued to consolidate around this support level up till now. As it looks primed to tap more lows, it would have to crack down the holding support level to scale through.

The price action appears a bit calm today due to low selling volume. We can expect more bearish actions to occur in the coming days. But if the current trading level continues to pose threat to the bears, Ethereum may look for a retest at $1.6k to initiate another drawdown.

Meanwhile, there’s hope for a rebound on the white ascending trend line forming since last November. If the trend line fails to produce a rebound, the asset will keep losing momentum.

The current market condition indicates that the bearish action is just starting, with more pressure lurking around the corner. The price has been down by 3% in the past 23 hours.

Ethereum Key Level To Watch Source: Tradingview

While anticipating a crackdown, the potential support to pay attention to is $1,473, followed by $1,403, which sits on the trend line. A slight break below this line could slip the price to the $1,350 support level. The $1,250 level is the next support to watch if the price dips further.

For now, the $1,678 level is the closest resistance to consider in case of an increase. The future resistance levels to watch out for are $1,788 and $1,900.

Key Resistance Levels: $1,678, $1,788, $1,900

Key Support Levels: $1,473, $1,403, $1,350

Spot Price: $1,561 Trend: Bearish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: melpomen/123RF // Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3824.11 (+0.05%)
Объем 24H $18.677b
Изменеия 24h: -1.57 %, 7d: 3.29 %
Cегодня L: $3784.66 - H: $3876.49
Капитализация $459.423b Rank 2
Цена в час новости $ 1605.26 (138.22%)

ethereum price lost hours time almost trading

Источник: nulltx.com

ethereum price → Результатов: 126


ETHEREUM PRICE ANALYSIS & PREDICTION (January 1) – ETH Continues to Lose Momentum After Facing Rejection, Big Drop Around The Corner? 

Ethereum advanced bullish this week and broke out to a new yearly high. But it saw a rejection and failed to sustain bullish momentum. The price slipped and now looks weak on the daily timeframe.  Following a quick recovery above the $2100 level in the mid-month, Ethereum’s price increased and […]

2024-1-2 13:37


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Floki launches new Telegram trading bot

Floki has officially announced its new trading bot, revealing a Closed Beta launch. The new bot works on the Ethereum, BNB Chain and Base blockchains. Meanwhile, the FLOKI token will be the main utility token of the new bot, the team announced.

Криптопортфель Дональда Трампа превысил $10 миллионов

Недавние отчеты показывают, что криптовалютные активы Дональда Трампа превысили отметку в $10 миллионов. Этот внушительный рост в основном связан с успешностью монеты TRUMP, мем-коина, созданного в честь экс-президента.