Ethereum (ETH) Price Analysis: Ether May Decline To $1,735 Low, Faces Rejection From $1,880 High

21 March 2021 | Updated: 21 March 2021

Key Highlights
Ether faces rejection from $1,880
The crypto may further decline to $1,735

Ethereum ETH) Current Statistics
The current price: $1,794.91
Market Capitalization: $206,243,886,534
Trading Volume: $25,415,069,409
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400

Ethereum (ETH) Price Analysis March 21, 2021
Yesterday, the bulls retested the $1,880 resistance zone which caused Ether to decline to $1,777.20 at the time of writing. The biggest altcoin will further decline if the $1,750 support fails to hold. Ethereum price movement has remained stable above the $1,750 price level for the past six days. It has also been fluctuating between $1,750 and $1,850. On the downside, if there is a price breakdown below $1,750, Ether will plunge to $1,450 low. Ethereum is trading at $1.779.20 at the time of writing.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether’s price is above the moving averages despite the retracement.
The biggest altcoin will rise if price finds support above the SMAs. The coin is at level 53 of the Relative Strength Index period 14. It indicates the market is in the uptrend zone and above the centerline 50.

ETH/USD – 15 Mins Chart

Conclusion
Ethereum is retracing after rejection from the recent high. The Fibonacci tool has indicated a further downward movement of price. On March 21 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. This retracement implies that ETH will fall to level 2.0 Fibonacci extensions or a low of $1,735.31.

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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.