Ethereum Price Forecast – March 26
If the Ethereum price forecast prepares for the uptrend, the coin will be technically and fundamentally ready to break above $3500 respectively.
Resistance Levels: $3700, $3900, $4100
Support Levels: $2400, $2200, $2000
BTCUSD – Daily Chart
Within the channel, ETH/USD is trading above the 9-day and 21-day moving averages. The second largest cryptocurrency is poised to start another bullish run above $3200 if the market price crosses the channel’s upper bound. Therefore, breaking above this barrier is the first signal a bullish needs to push higher.
Ethereum Price Prediction: Ethereum Price May Be Ready for Another Peak
Looking ahead, if Ethereum price continues to climb, the first resistance level could be at $3400 as it could also be followed by $3600. However, additional resistance levels can be found at $3700, $3900 and $4100 respectively. On the other hand, if Ethereum price breaks below the 9-day moving average, it could hit the first support level of $2900.
Below that, crossing the 21-day moving average could lead to the critical support levels of $2400, $2200 and $2000. Meanwhile, the technical indicator Relative Strength Index (14) is moving above the 60 level, indicating that buyers are trying to track market momentum and this could also mean another signal from ETH could soon move above $3200.
Relative to Bitcoin, the daily chart shows that the red line of the 9-day MA is above the green line of the 21-day MA. However, if the market price remains above the moving averages, there is a possibility that additional gains could be made in the long run and the next resistance key above this barrier is close to the 7200 SAT level.
BTCUSD 4 Hour Chart
Therefore, if the price crosses the upper limit of the channel, it may break the resistance level of 7700 SAT and above. However, if the bears regroup and fall below the moving averages, the 6700 SAT support level could play out before rolling towards the critical support at 6400 SAT and below. The relative strength index (14) is moving around 56, indicating sideways movement.
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