ETH/USD Appears Bullish Above the $3400 Level
Ethereum Price Prediction – March 29
The Ethereum price prediction shows that ETH must break and close back above the $3500 price mark, for further upside.
ETH/USD Market
Key Levels:
Resistance levels: $3900, $4100, $4300
Support levels: $3000, $2800, $2600
According to the daily chart, ETH/USD is seen trading at $3467 after recording an intraday high at $3483 during the European session today. Looking at the daily chart, Ethereum (ETH) has failed to follow in the footsteps of Bitcoin (BTC) as its margin of gains has been limited this time around. ETH/USD is still above the 9-day and 21-day moving averages after recovering from the daily low of $3334.
Ethereum Price Prediction: ETH Price May Spike to the Upside
Since the beginning of this month, today has been day that the Ethereum price touches the monthly high of $3483, and the coin is expected to rise from this current high to $3500, reason is that the ongoing trend may move a little bit higher in the next positive movement. In the meantime, the Ethereum price may move towards the upper boundary of the channel to touch the nearest resistance at $3600.
Therefore, 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 price could hit the resistance levels at $3900, $4100, and $4300 respectively. Meanwhile, should the technical indicator Relative Strength Index (14)decide to make a quick turn to the south, there may be a cross below the 70-level, and the bearish drop may likely roll the market down to the support levels of $3000, $2800, and $2600.
When compared with Bitcoin, as the red-line of 9-day MA is above the green-line of 21-day MA, the market price focuses on the upward movement within the channel. ETH/BTC is currently trading at the 7178 SAT, and if the market continues to rise, the next key resistance may likely be at 7800 SAT and above.
On the downside, a possible bearish movement below the moving averages may likely come into play, when this is done, the support level of 6500 SAT and below could be visited. Meanwhile, the market may have a bullish day today because the Relative Strength Index (14) indicator moves above the 60-level, suggesting more bullish signals.
Looking to buy or trade Ethereum (ETH) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
