ETH/USD – Bulls Run Into Resistance At $1875
Key Support Levels: $1800, $1755, $1700.Key Resistance Levels: $1875, $1900, $1960.
Ethereum has seen a strong bullish week as it is up by a total of 24% over the past seven days. At the start of March, the coin was struggling to break the resistance at $1580 (bearish .382 Fib). However, they finally poked above during the weekend.
The coin was rising every day this week until it hit the resistance at $1875 (1.414 Fib Extension – yellow) yesterday. Today, ETH dropped lower into $1755 earlier in the day but has since reversed and is now trading at $1855.
ETH/USD Daily Chart. Source: TradingViewETH-USD Short Term Price Prediction
Looking ahead, the first level of resistance lies at $1875. This is followed by $1900, $1960 (1.272 Fib Extension – blue), $2000, and $2036 (ATH price).
On the other side, the first level of support lies at $1800. This is followed by $1755, $1700, and $1667.
The RSI is in the bullish territory but is starting to point downward, indicating the bullish pressure might be starting to fade slightly. Additionally, the Stochastic RSI is looking overbought and is primed for a bearish crossover signal that would send the market lower.
ETH/BTC – Market Returns To 200-days EMA
Key Support Levels: 0.031 BTC, 0.0309 BTC, 0.0304 BTC.Key Resistance Levels: 0.0337 BTC, 0.035 BTC, 0.0361 BTC.
Against Bitcoin, Etheruem started the week on a bullish footing after it surged above the 200-day EMA on Saturday. During the first few days of the week, the coin went on to break past the 100-day EMA to reach the resistance at 0.035 BTC.
ETH rolled over from there yesterday …
Story continues on Crypto Potato
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