Ethereum Struggles below $2,775 as Price Reaches an Overbought Region


Ethereum makes an upward correction
ETH/USD reaches an overbought region

Ethereum ETH) Current Statistics
The current price: $2,711.83
Market Capitalization: $325,132,343,184
Trading Volume: $14,062,481,683
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis March 9, 2022
Ethereum’s (ETH) price is in a downward correction as price reaches an overbought region. Presently, the upward move is facing resistance at the recent high. Ether’s price has reached the overbought region. On the upside, if price breaks above the moving averages it will face resistance at $3,000 and $3,200. However, if those resistance levels are cleared the largest altcoin will be out of downward correction. On the downside, if the altcoin faces rejection at the moving averages, the downward correction will resume. Besides, the altcoin risks further decline below $2306.

Ethereum Struggles in a Downward Correction as Price Reaches an Overbought Region
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 48 of the Relative Strength Index for period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. It is capable of a further downward move. Ether is above the 80% range of the daily stochastic. The crypto’s price is at the overbought region. There is a possibility of Ether declining to the downside. Also, it implies that the downward correction will persist.

On the 4-hour chart, Ethereum is in an upward move as price reaches an overbought region. The current price is at the overbought region of the market. A further upward move is doubtful as sellers emerge in the overbought region.

Ethereum Struggles in a Downward Correction as Price Reaches an Overbought Region
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
  • 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.