23-25 March Technical Ethereum Prediction - ETHUSD Forecast


Ethereum or ETHUSD pair struggled to surpass the $590 level and showing the bearish trend. According to 23-25 March Technical Ethereum Prediction, the pair might break its daily support of US$ 510.

22 March, AtoZForex – Ethereum or ETHUSD after gaining a traction a few days back lost its momentum. At the time of writing this article, ETHUSD pair trading at $ 517.68 down -13.73% in a weekly timeframe. The second largest cryptocurrency - Ethereum now has a market cap of around $ 50 Billion. In the last 1 Month, the price has moved by $ -356.11 (-40.72%) with a total volume of over $ 7.98 B. The highest price, $ 895.61, was on Wednesday, 21 February 2018. The lowest price, $ 454.18, was on Sunday, 18 March 2018. Will the Ethereum cross US$ 550 by the weekend?

23-25 March Technical Ethereum Prediction

The ETH is still under pressure as it moved below the daily support level against the US Dollar. The 100 SMA is still above the longer-term 200 SMA on the Daily timeframe to signal that the path of least resistance is to the upside. The Ethereum price struggles to cross its previous low, i.e., $575- 590 level and follows downtrend move.

According to Fibonacci retracement charts, the ETHUSD pair is trading near 50% Fibo. retr. level. On the upside, if the ETHUSD pair remains stable above the 50% Fibo. retr. zone than an upward move towards $560- 575 could be seen. But more likely, the ETHUSD pair might fail to sustain the 38.2 % Fibo. retr. level and the pair might break 23.6% Fibo retr. level. Thus, the ETHUSD could face downward push this week, and the Ethereum price might test $ 480- 460 level by the end of this week.

The relative strength index(14) value is below 50 which gives a selling signal on the weekly timeframe.  

The MACD(12,26) value is 42.28 also gives buying signal in daily charts.  

Moreover, according to ATR(14), the ETHUSD pair is less volatile.

The Ethereum has significant support near $510.61 level and resistance at $572.52 level.

ETHUSD Pivot Points

Name S3 S2 S1 Pivot Points R1 R2 R3
Classic 448.7 482.03 510.61 543.94 572.52 605.85 634.43
Fibonacci 482.03 505.68 520.29 543.94 567.59 582.2 605.85
Camarilla 522.16 527.84 533.51 543.94 544.87 550.54 556.22
Woodie's 446.32 480.84 508.23 542.75 570.14 604.66 632.05

 

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