Ethereum Stabilizes but Is in Danger of Further Decline

Updated:

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Ethereum ETH) Current Statistics
The current price: $1,567.47
Market Capitalization: $191,783,974,461
Trading Volume: $4,941,549,712
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis March 5, 2022
Ethereum (ETH) price is settling above the $1,500 support but is in danger of further decline. The existence of Doji candlesticks has caused the price movement to remain unchanged. The largest altcoin is currently restricted to prices between $1,500 and $1,700. The downward trend will resume on the downside if the bears break through the $1,500 support. Ether’s cost will plunge sharply, reaching a low of $1,352. Buyers will face a challenge in resuming a bullish trend on the upside. The price of the cryptocurrency must surpass either the resistance at $1,600 or the moving average lines. As of this writing, the price of Ether is $1,563.80.

Ethereum Stabilizes Above $1,500 despite the Danger of Further Decline
ETH/USD – Daily Chart

ETH Technical Indicators Reading
The Relative Strength Index (RSI) has not changed above level 44 for period 14. The coin has more room to drop. The price bars’ position below the moving average lines is what’s causing the current decline. The daily Stochastic is above level 40, and the bullish momentum for the cryptocurrency is present.


Conclusion
The value of the cryptocurrency asset is still restricted to ranges between $1,500 and $1,700 but is in danger of further decline. The presence of Doji candlesticks casts doubt on the direction of price movement. As long as the Doji candlesticks are present, Ethereum will continue its range-bound run between $1,500 and $1,700.

Ethereum Stabilizes Above $1,500 despite the Danger of Further Decline
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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • 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
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 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.