Ethereum Price Prediction – March 3
The Ethereum price prediction may set a bullish run if the market can climb back above the $3800 resistance level.
ETH/USD Market
Key Levels:
Resistance levels: $3900, $4100, $4300
Support levels: $3000, $2800, $2600
ETH/USD is trading within a positive movement at the time of writing as the market runs a little retracement movement towards $3600 resistance with price growth of 1.64%. However, the Ethereum price may begin to maintain a bullish movement and traders can expect the price to continue to rise as soon as the bulls put more pressure on the market.
Ethereum Price Prediction: Would ETH Price Gain More Upsides?
If the trend line of the 9-day moving average breaks again, the Ethereum price may slide back to $3300 and $3200 support. But, if the price keeps respecting the upward movement, traders can expect a bullish continuation after touching the $3600 level. As the technical indicator Relative Strength Index (14) moves to cross into the overbought region, the next resistance levels for the king coin may be located at $3900, $4100, and $4300 respectively.
Looking at the price formation, a bearish break below the 9-day moving average may likely come to play, and a bearish extension could roll the coin back to the long-term support levels at $3000, $2800, and $2600. Therefore, a continuous fall might further lead to a violent break below the lower boundary of the channel.
When compared with Bitcoin, buyers are stepping back into the market as the coin keeps on showing some promising signs that could make higher highs above the 9-day and 21-day moving averages. Looking from the upside, the nearest resistance level lies at 7800 SAT, as higher resistance lies at 8100 SAT and above.
From the downside, the nearest support level below the 9-day moving average at 7200 SAT, and if the price drops further to create a new low, lower support could be located at 7000 SAT and below. However, the technical indicator Relative Strength Index (14) moves within the overbought region showing that the bulls are on point.
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