Ethereum Declines From $3,000 Resistance Zone, It May Find Support at $2,800

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Ethereum reaches the high of $2,986
ETH/USD resumes bearish momentum

Ethereum ETH) Current Statistics
The current price: $2,856.88
Market Capitalization: $342,938,659,273
Trading Volume: $12,412,588,483
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis March 20, 2022
Ethereum’s (ETH) price has broken above the moving averages as it may find support at $2,800. The altcoin fell as it has been overbought since March 15. Presently, it has been retracing from the $3,000 resistance zone. The market may retrace to the support above $2,798. In other words, if Ether retraces above the moving averages, a fresh uptrend will resume. However, if the market declines below the moving averages, the downtrend will resume.

Ethereum Declines From $3,000 Resistance Zone; It May Find Support at $2,800
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 54 of the Relative Strength Index for period 14 . The largest cryptocurrency is in the bullish trend zone and capable of a further upward move. However, it is currently retracing as it reaches an overbought region. Ether is below the 40% range of the daily stochastic. The market is in a bearish momentum.

Conclusion
On the 4-hour chart, Ethereum has resumed an uptrend as it may find support at $2,800. The uptrend was terminated at the $3,000 resistance zone. Meanwhile, on March 17 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that ETH will rise to level 1.272 Fibonacci extension or $2,911.04.The market has reached level 1.272 Fibonacci extension and it is retracing to the downside. It will retrace and find support above $2,798.

Ethereum Declines From $3,000 Resistance Zone; It May Find Support at $2,800
ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy LBlock:

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *