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Ethereum (ETH) Price Analysis for March 24

Fri, 03/24/2023 - 15:10
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Denys Serhiichuk
Can Ethereum (ETH) start rising faster than Bitcoin (BTC)?
Ethereum (ETH) Price Analysis for March 24
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The market is trading sideways on the last working day of the week, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


Ethereum (ETH) is less of a gainer than Bitcoin (BTC) today, rising by 1.72%.

ETH/USD chart by TradingView

Despite the rise, the price of Ethereum (ETH) is coming back to the local support level at $1,729. Buyers have failed to fix above the important $1,800 mark once again, which means that a correction to $1,700 may happen shortly.

ETH/USD chart by TradingView

On the daily time frame, buyers could not keep the rise going after yesterday's bullish candle. However, it is too early to think about a decline as the price is located in the middle of the channel, which means that none of the sides has seized the initiative.

DOGE Price Analysis for March 23

But if the drop to $1,700 continues, there is a chance to see the breakout of the support at $1,717, followed by a decline to the $1,650 zone.

ETH/USD chart by TradingView

On the weekly chart, the candle is about to close far from the peak at $1,841, confirming the weakness of buyers. If the situation remains the same, traders are likely to see a consolidation in the area of $1,750-$1,800 in the upcoming week.

Ethereum is trading at $1,766 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