Ethereum (ETH) Price Analysis: Ether Declines below $1,750 as Bulls Fail To Sustain the Current Momentum


Key Highlights
Ethereum bulls break lower price range of $1,750
The biggest altcoin is likely to reverse at level $1,615

Ethereum ETH) Current Statistics
The current price: $1,679.74
Market Capitalization: $193,519,854,025
Trading Volume: $20,772,054,180
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis March 24, 2021
Ethereum bulls have broken the $1,750 support as ETH price dropped to $1,676.10 low. For the past week, the biggest altcoin has been holding above $1,750 support. Occasionally, buyers will push Ether to retest the $1850 high but could not break the recent high. However, the bears have broken the current support as the market resumes a downward move. The crypto has fallen to $1,768 low and it is consolidating above it. The market will decline to $1,500 low if the bears break the current support.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether’s price has broken below 21-day and 50-day SMAs. This indicates that the selling pressure may resume. The bullish trend line has been partially broken by price. This may bring about trend change. In other words, the uptrend has given way to a downtrend.

ETH/USD – 4 Hour Chart

Ethereum’s downward move has not subsided as price slumps above $1,600 support. Meanwhile, on March 22 bearish trend, a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement implies that ETH will fall to level 1.272 Fibonacci extensions or a low of $1,615. 16. Ether will fall at this low but will reverse to 78.6% Fibonacci where it originated.

You can purchase crypto coins here: Buy Coins

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 results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
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.