The ETHUSD pair is now trading well below the $460 level, and it might remain in a bearish zone. Here is the 27-29 March Technical Ethereum Prediction.
27 March, AtoZForex – Ethereum – the second largest cryptocurrency with a market cap of around $ 45 Billion is trading below the US$ 460 level, perpetually breaking the monthly lows. Also, the entire cryptocurrency market following the bearish trend since last few weeks. Over the previous Week, the price has moved by $ -77.34 (-14.52%) with a total volume of over $ 1.62 Billion. The highest price, $ 590.20, was on Wednesday, 21 March 2018. The lowest price, $ 450.53, was on Tuesday, 27 March 2018. Will the ETHUSD pair remain bearish over the entire week?
27-29 March Technical Ethereum Prediction
According to the technical indicators, the ETHUSD pair could remain bearish. 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.
According to Fibonacci retracement charts, the ETHUSD pair trading below the 23.6% Fibo retr. zone. The price declined and broke a crucial level near its first daily support level. Thus, opens the door for the further decline in near-term. If the price failed to sustain its first support level i.e. $460 levels than a huge downward move towards US$ 430- 425 level might be seen in few days.
The relative strength index(14) value is below 50 which gives an Oversold signal on the daily timeframe.
The MACD(12,26) value is -77.140 also gives selling signal in daily charts.
Moreover, according to ATR(14), the ETHUSD pair is less volatile.
The Ethereum has significant daily support near $460 level and resistance at $520 level.
Ethereum Daily Pivot points
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