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Ethereum (ETH) Price Analysis for March 29

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Wed, 29/03/2023 - 15:10
Ethereum (ETH) Price Analysis for March 29
Cover image via www.tradingview.com

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Bulls have totally seized the initiative as all of the top 10 coins are again in the green zone.

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Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has risen by 4.19% over the last 24 hours.

ETH/USD chart by TradingView

On the hourly chart, the price of Ethereum (ETH) is coming back to the accumulation zone. If the candle closes below the resistance at $1,817, there are good chances to see the correction to the area below $1,800. Such a scenario is relevant until tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, the rate of Ethereum (ETH) has continued to rise after a bounce back from the support level at $1,715. At the moment, one should pay attention to the bar closure.

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If it closes above the $1,800 zone, there is a possibility of a further upward move to the resistance at $1,846.

ETH/USD chart by TradingView

From the midterm point of view, the situation is much better as the price is trading near the resistance at $1,846. If the breakout of the $1,846 mark happens, the rise may continue to the next zone of $2,000. Such a scenario is relevant until mid-April.

Ethereum is trading at $1,809 at press time.

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