Ethereum Price Prediction – March 18
The trading session on March 9 has appeared to be the current range-trading line of the ETH/USD. On March 13, a spike occurred to closely average a high-point of $2,000 but, the crypto couldn’t capitalize on that to push further in the north direction.
Resistance levels: $2,000, $2,200, $2,400
Support levels: $1,500, $1,300, $1.100
ETH/USD – Daily Chart
After a visible price rallying move from the base-line marked at $1,400 level, the crypto’s value has seemingly entered a range-bound trading mode around a high value of $1,800. The bullish trend-line is drawn to attest that the formation of current ranging moves is a result of leftover buying-spree caused by the ETH/USD bulls. The 14-day SMA trend-line is above the 50-day SMA closer to the current trading zone of the market. The Stochastic Oscillators have slantingly bent from the overbought region to place half-point between ranges 80 and 40. They attempt to close the hairs northbound in the ranges. That signals that buying pressure is in force to some extent.
Will ETH/USD price holds long the current short line of ranging trend?
The immediate resistance level of $2,000 will play a vital role in determining a new trend of the ETH/USD. In what sense, a breakout of it needs to come to play. Otherwise, price may continually tend to make failing efforts by facing series of rejection moves around the $1,800 and the $2,000 levels. Therefore, indecision trading conditions may at that capacity take the center stage of the crypto-market.
Taking the return of a sell-off trading situation of ETH/USD, bears will have to be fully patient until a violent bullish reversal move comes by. Alternatively, a sudden breakdown of the $1,800 point will give a lighter note to suggest a resumption of another round of correctional moves. Traders need to be wary of taking a sell position against a well-established bullish trend.
ETH/BTC Price Analysis
It is still apparent that market value throws weight behind BTC as the counter-crypto and, as paired the ETH as the base-crypto in the comparison. The 50-day SMA trend-line has been crossed from the top by the 14-day SMA trading indicator to the south. And, price trades closer underneath them to showcase the level of downward pressures. The Stochastic Oscillators are at range 40, with a slight opening of the hairs to point towards the south. That indicates that the falling forces against the ETH by the BTC have not been exhausted.