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Ethereum Price Prediction: ETH/USD Is Back Above $2500

Ethereum Price Prediction
Ethereum Price Prediction

Ethereum Price Prediction – March 7

The Ethereum price prediction shows that ETH is hovering above the $2600 price mark, and it is currently changing hands at $2617.

ETH/USD Market

Key Levels:

Resistance levels: $3200, $3400, $3600

Support levels: $1900, $1700, $1500

Ethereum Price Prediction
ETHUSD – Daily Chart

ETH/USD touches the resistance level of the $2649 mark as the number two crypto faces the path of development, but this can only be confirmed if the market price remains above $2600. However, the Ethereum price is heading towards the 9-day and 21-day moving averages with 2.63% gains. Meanwhile, ETH/USD may again drop below this level if the bulls fail to push it above the moving averages.

Ethereum Price Prediction: Ethereum (ETH) May Fall Below $2500

According to the daily chart, the Ethereum price has not been able to display a strong bullish momentum. Nevertheless, the good thing is that the coin is not decreasing drastically. Therefore, the Ethereum price needs to stay above $2600 consistently for the next few days to regain the proper bullish momentum as the technical indicator Relative Strength Index (14) moves above 40-level. At the time of writing, the Ethereum price only needs to conquer a few crucial resistance levels of $2800 and $3000 to stay comfortably at the top.

Now, if the coin closely manages these levels well, then it could reach the potential resistance levels at $3200, $3400, and $3600 respectively. On the downside, if the bears wish to maintain their drive, ETH/USD may likely slide and face the lower boundary of the channel, any further bearish movement could drag it to the critical supports at $1900, $1700, and $1500 respectively.

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Against Bitcoin, Ethereum is currently trading below the 9-day and 21-day moving averages. The Ethereum price is changing hands at 6694 SAT as the technical indicator Relative Strength Index (14) moves above 40-level.

ETHBTC – Daily Chart

However, the daily chart reveals that buyers are likely to have the day as the coin could locate the resistance level at 7400 SAT and above. Conversely, a lower sustainable move towards the lower boundary of the channel may cancel the bullish pattern and attract new sellers to hit the support at 6000 SAT and below.

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