InsideBitcoins.com

Ethereum Price Prediction: ETH/USD Saw a 1.71% Price Fall as It Drops Toward $131 Level

ETH Price Prediction – March 25

The Ethereum price may face a fresh round of selling as the price remains at a risk of more downsides if it breaks the $130 support zone.

ETH/USD Market

Key Levels:

Resistance levels: $165, $170, $175

Support levels: $105, $100, $95

ETHUSD – Daily Chart

For quite some time now, ETH/USD had been stuck around the trading price area of $110 and $140, after falling from $143 and then $140 price levels. A couple of days ago, ETH/USD price was found around its usual resistance level where it rose to the $143.78. Towards the day-end, ETH mounted high and just to start plunging today.

However, ETH/USD is currently trading above the 9-day moving average at $136.63 at the time of writing, having trying to recover from the intraday low of $131.84. The second-largest crypto, with a current market value of $15.05 billion, has lost 1.71% of its value since the beginning of today and has remained above the moving average.

Similarly, the Ethereum price continues to follow the sideways movement but still within the channel and any attempt to break below the channel, the bears may see the critical support at $105, $100 and $95 levels. In other words, if the bulls push the price above the channel and maintain the upward movement within the channel, the buyers may likely find resistance at $165, $170 and $175.

Meanwhile, the RSI (14) is moving in the same direction, which indicates that the market is indecisive now.

Against Bitcoin, the market price remained in the descending channel as the bears are dominating the market. ETH/BTC is currently trading at 0.0204 BTC and the bulls couldn’t push the price above the 9-day moving average. Looking at the chart, if the market continues to drop, the next key supports may likely be at 0.0180 BTC and below.

ETHBTC – Daily Chart

However, on the upside, a possible bullish movement may likely push the market above the moving average, when this is done, the resistance level of 0.0230 BTC and above could be visited. The RSI (14) faces the south and this indicates that the market may continue to fall.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • Excellent choice for U.S. customers
  • Paypal accepted
  • CySEC & FCA regulated
  • Buy 12+ cryptocurrencies
4.5/5

eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Established stock-exchange listed company
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees and low spreads
    4.5/5

    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
      Avatar

      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

      Leave a Reply

      Your email address will not be published. Required fields are marked *