Crypto

Ethereum Price Prediction: ETH/USD Ready for $2500 Support Level


Ethereum Price Prediction – March 10

The Ethereum price prediction is approaching a crucial support level that could take the coin to the south.

ETH/USD Market

Key Levels:

Resistance levels: $3300, $3500, $3700

Support levels: $2000, $1800, $1600

ETHUSD – Daily Chart

According to the daily chart, ETH/USD is currently trading down by 4.47% at its current price of $2605.62, which marks a notable decline from its daily high of $2734 when the coin experiences a slightly positive move. In the past few hours, ETH/USD has been able to fall below the 9-day and 21-day moving averages.

Ethereum Price Prediction: Ethereum Price May Create More Low

The Ethereum price is currently heading to the downside, and it is likely for the coin to face more corrections as the 9-day moving average may cross below the 21-day moving average. However, looking at the daily chart, the Ethereum price is bearish as all the technical indicators remain on the negative side.

In the meantime, a bearish drop towards the lower boundary of the channel may roll the market down to the support level of $2000, $1800, and $1600 while a possible bullish surge could drive the market towards the upper boundary of the channel to hit the potential resistance levels at $3300, $3500, and $3700 which could further provide bullish signals for the market. Meanwhile, the Relative Strength Index (14) is moving below 50-level, and staying there may cause the coin to create another low.

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Against Bitcoin, the Ethereum price is currently facing the downside as the bulls are coming up slowly. As it is, ETH/BTC is currently trading at 6609 SAT, and the bulls couldn’t push the price above the 9-day moving average. However, if the market drops toward the lower boundary of the channel, the next key supports may likely come at 6000 SAT and below.

ETHBTC – Daily Chart

On the upside, any bullish movement above the 9-day and 21-day moving averages could push the market towards the positive in other to visit the resistance level of 7200 SAT and above. Similarly, the Relative Strength Index (14) is moving above 40-level, suggesting that the market may follow the bullish movement.

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