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Ethereum (ETH) Price Analysis for March 22

Wed, 03/22/2023 - 15:55
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Denys Serhiichuk
Can Ethereum (ETH) show same rise as Bitcoin (BTC)?
Ethereum (ETH) Price Analysis for March 22
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls are back in the game, as the rates of most of the coins keep rising.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) has not followed the rise of Bitcoin (BTC), falling by 0.36%.

ETH/USD chart by TradingView

Despite the slight decline, the rate of Ethereum (ETH) has broken the local resistance at $1,812 and is trying to fix above it. If it happens, the accumulated power might be enough for the impulse to the $1,850 mark.

ETH/USD chart by TradingView

On the daily time frame, the price of Ethereum (ETH) is trading in the middle of the channel, between the support at $1,730 and the resistance at $1,846. Currently, the leading altcoin is accumulating energy for a further sharp move.

Related
Bitcoin (BTC) Price Analysis for March 21

If buyers can hold the rate above the $1,800 mark, the breakout of the resistance may lead to the test of the $1,900 area shortly.

ETH/BTC chart by TradingView

Bulls could not keep the rise going after yesterday's bullish candle closure. If the situation does not change by the end of the day, there are high chances to see the breakout of the support level at 0.06222.

Ethereum is trading at $1,807 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.