Ethereum (ETH) Price Analysis – March 29

Ethereum Chart By TradingView

ETHUSD Medium-term Trend: Ranging

  • Resistance Levels: $230, $240, $250
  • Support Levels: $130, $120, $110

Since February 24, the price of Ethereum fell to the low at $135.20 after the crypto’s price was resisted at the $160 price level. On  February 25, the bulls pulled back price above the 12-day EMA and the 26-day EMA but were resisted at $140 price level. The price fell to the support of the $130 price level.

At each resistance, the crypto’s price usually falls within the range bound zone. The ETH price now ranges between the levels of $130 and $140. On March 27, the bulls broke the $140 price level but the bears pulled back to the resistance zone. The BTC price is trading at $143.73 but is likely to face another resistance.

On the upside, a price breakout at the $140 resistance level, will make the crypto’s price rally above the $160 price level. Meanwhile, the stochastic band is at the oversold region but above the 40% range. This indicates that the price is in a bullish momentum and a buy signal.

ETHUSD Short-term Trend: Bullish

Ethereum, ETHUSDEthereum Chart By TradingView

On the 4-hour chart, the price of Ethereum was in a bullish trend. On March 27, the bulls broke above the 12-day EMA and the 26-day EMA as the price reached the bullish trend zone. At the $140 resistance level, the bulls were initially resisted but the bulls overcame the initial resistance.

The bulls again tested the $144 price level, the crypto’s price is facing similar resistance at that level. Meanwhile, the stochastic band is at the overbought region but below the 80% range. This indicates that the price is in a bearish momentum and a sell signal.

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