Stavros Georgiadis

Ethereum Price Prediction for March 2019 – Is the Rally in February Sustainable?

The recent rally in February 2019 may continue in March 2019. This latest rally for now has lost its momentum
Ethereum Price Prediction for March 2019 – Is the Rally in February Sustainable?
You may also like:
Contents

Our article on Ethereum Price Prediction for February 2019 focused on the question whether Ethereum market capitalization could surpass the market capitalization of Ripple. It happened and as of March 3, 2019 Ethereum moved up one position from third to second position in terms of market capitalization on top 100 cryptocurrencies on CoinMarketCap.com. What is our Ethereum price prediction for March 2019? 

💼 Related Article
Ethereum Price Prediction for February 2019 – Can It Surpass the Market Capitalization of Ripple?
🔥 Hot
1 month 1 week
256
Ethereum Price Prediction for February 2019 – Can It Surpass the Market Capitalization of Ripple?

Can the rally in February continue? Our prediction for February proved to be incorrect as we favored the resume of downtrend. A huge rally moved the price of Ethereum from the low price of about $100.70 to the high price of about $166.40 in the last month, proving the fact that any Ethereum price predictions are very hard to be accurate. 

Ethereum Key Statistics

As of March 3, 2019, some key statistics for Ethereum are the following ones:
•    Market Cap: 14.12 B 
•    Circulating Supply: 105.10 M
•    52 Week Low-52 Week High: 82.4270 - 877.857
•    Current price is $134.40
•    Year-to-date performance is +3.26%.

Some Ethereum price prediction mentions by other sources 

Some interesting Ethereum forecasts for the month of March 2019 are the following ones:

CoinPredictor mentions the following about Ethereum price prediction March 2019. “Our detailed event-based Ethereum prediction prognosis is estimating that ETH dollar value is going to move up and will be +0.7% reaching towards $134.75 by 03-15-2019.”. This forecast is based on an event-based algorithm. What is interesting though is their forecast about the price of Ethereum at the end of March 2019. A decline to the price level of $81.24 is expected, a rather pessimistic or bearish Ethereum price prediction. It is almost a 40% decline compared to the current price of $133.

LongForecast Ethereum price prediction for March 2019 is for an open price of $137, a low-high range or $107-$163 and a close price of $150, resulting in a monthly gain of about 9.5%.

WalletInvestor has a target price for Ethereum for the following 14-days as follows. $169.278 is the upside and $133.051 is the downside. Its forecast trend line is rising being above the price line, indicating some optimism about the future price of Ethereum.

30Rates appears to be optimistic about the Ethereum price during March 2019. Its Ethereum price prediction is that by the end of March 2019 may have a minimum price of $142, a maximum price of $164 and at the end of the day on Apr. 1, 2019 a price of $153. 

An interesting note to focus on is that the price level of $150 has been mentioned by two of the above sources. 

Monthly Ethereum price prediction based on technical analysis

What does our technical analysis based on the daily and monthly Ethereum charts tell us to make an Ethereum price prediction by the end of March 2019? As per our previous technical analysis we will examine two different time periods, the daily and weekly charts.

Ethereum price prediction for March 2019

ETH/USD chart from TradingView

We will have two scenarios, one optimistic and one pessimistic about the Ethereum and its price forecast for March 2019.

Ethereum price forecast for March 2019

ETH/USD chart from TradingView

Ethereum price bullish monthly scenario

The recent rally in February 2019 may continue in March 2019. This latest rally for now has lost its momentum. The current price of about $135 is above the 50-day exponential moving average, proving a strong support and is slightly below the 20-day exponential moving average. The price is now in a consolidation phase. The strength of the trend has weakened and is shown by the rather small trading daily range. 

There is strong support at the price level of $125, $116 and $103. We see strong resistance at the price level of $140, $147 and $166. Our Ethereum price prediction for an upside scenario is the range of $150-$155. Any price decline to the support zone of $120 should find support for a bounce to our higher level. 

Ethereum price bearish monthly scenario

On Feb. 24, 2019 there was a very large price decline for Ethereum. A very large red candle which showed excessive selling pressure. This should not be a surprise as price reached the former resistance level of $166-$170. The weekly chart shows that an attempt to have a price reversal from downtrend to uptrend is yet to be confirmed. 

The recent consolidation phase could drive price lower towards the price levels of $112-$113 and $100-$102. The MACD indicator has recently made a bearish crossover and the Stochastics Indicator (14,3,3) shows no signs of a bullish crossover yet.

As a conclusion our Ethereum price forecast for March 2019 supports mostly the bearish monthly scenario. The key reason is that the price rally has lost its momentum and the longer time frame, the weekly chart shows that still an uptrend has not been confirmed.
 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.
2610 views
👓 Recommended articles
something-wide
something-wide
Vera Thornpike

Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?

🤑📈Bitcoin short-term price prediction from TradingView users. Is BTC to overcome $4,000 this week? When to buy Bitcoin? Patterns and factors contributing to BTC growth.
Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?
You may also like:
Contents

Bitcoin has managed to make it to $4,000 but didn’t hold long. What will be its next steps? Will BTC reach new heights, or is its short-term success to be eclipsed by another bearish trend? tradingview users share their outlook on Bitcoin’s nearest future.

BTC is going through ABC correction

Bitcoin is through ABC correction

Bitcoin price chart from botje11

According to user botje11, Bitcoin seems to be going through ABC correction. So far, it has been moving towards the $4,200 neckline again. Volume is moderate, but not bad. It looks to be developing normally within what looks like a right shoulder. Since December 2018, it has been attempting to form an inverse H&S pattern.

Here’s what botje11 writes:

“In a short term, we want to see something like the chart on the left. Making a bigger bull flag here. So touching 4000/4020 again and then retest the support one more time around 3950/40. If we see this happen without any strange moves, chances will be very high to see an attack of the 4200. As you know from my previous analysis, that if we see a touch of 4200ish, even when seeing a rejection there at first, i am quite sure it will break eventually. In this scenario, 4000 should be the low after touching the 4200ish.”

If we manage to move up above 4000/4050, the volume should increase. To witness positive changes, the rally should be bigger than before. The real volume jump can be postponed until a break of the $4,200 level. But then it has to be enormous. Seems like traders aren’t willing to wait anymore.

Short-Sale Structure pattern is here

We are likely to see Bitcoin falling to a support line

Bitcoin price chart from CryptoManiac101

According to CryptoManiac101, up to date, we are witnessing a clear follow through with our Short-Sale Structure pattern. It means there’s a 90% chance of a flash dump or drop towards supports. However, crypto is a very volatile matter, and we might see an upward movement into the next week. At the moment, there’s no clear BTC/USD trade set up.

There’s the third successive buy signal

Prepare to buy BTC at $4,100

Bitcoin price chart from TradingShot

Bitcoin gives another buy signal for traders. Look at the pattern: 4H Channel Up within a 1D Ascending Triangle. The signal seems to be bullish in the Higher Low zone. Prepare to buy BTC at $4,100 higher high and sell on $4,190 when Ascending Triangle Resistance forms.

BTC is to fall to $3,300

BTC might fall to $3,300 and lower soon

Bitcoin price chart from MrRenev

Some users don’t share the optimism around Bitcoin’s future. For example, the user nicknamed MrRenev believes that BTC is to fall to around $3,300 in 7-10 days.

Here’s what he writes:

“After a dead cat bounce and the usual victims that regulators try so hard to protect - no matter how much that hurts the legit traders like me - and that lose no matter how many rules aka wheelchair training wheels are set in place to help them out, will ONCE AGAIN call the bottom, buy the dip etc - which should last let's say 3-5 days, the price will then fall more than 1/3 in a matter of days. We will then bottom at 1500-2000 we might get there fast or after a bounce a little higher and momentum slowdown follower the 33% loss in 2-3 days.”

Why should it be so? MrRenev bases his prediction on the fact that the Chinese government doesn’t like Bitcoin and might do everything to suppress it. BTC will be under risk after rejecting resistance twice and run into the next resistance which is $4,200-4,300. The user is sure that the chances of a bull run is minimal.

After breaking resistance, Bitcoin is through the uptrend. Judging by predictions from TradingView, it's more likely to rise than return to the $3,500 level or lower. Keep tabs on the new resistance level. $4,050 will be a new BTC price threshold and an entry point for traders.

BTC/USD price chart on TradingView

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.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!
122 views
👓 Recommended articles
something-wide
something-wide