Ethereum Price Forecast – March 23
The Ethereum price forecast is likely to break above the $3200 barrier as the coin points to the upper limit of the channel.
Resistance Levels: $3700, $3900, $4100
Support Levels: $2300, $2100, $1900
ETHUSD – Daily Chart
ETH/USD refreshes to new highs after hitting the daily low of $2920 to move above $3000 while it is currently trading at $2974 with a bullish crossover above the 9 and 21 day moving averages. On the other hand, if the market price moves below the moving averages, the bears can probably increase selling pressure, but the bulls can gather more on the price drops.
Ethereum Price Prediction: ETH Price Ready To Push Higher
The Ethereum price can only enter the uptrend if the current market movement keeps the movement above the moving averages. Currently, the technical indicator Relative Strength Index (14) is likely to rise above the 60 level by sending bullish signals to the market that could encourage more buyers to enter the market. However, the Ethereum (ETH) may now cross the upper limit of the channel to get additional bullish moves.
However, to the extent that the 9-day MA’s red line remains above the 21-day MA’s green line, the coin may continue to do well, and Ethereum price has reached the resistance levels at $3700, $3900 and $4100 respectively. In other words, if the second digital asset decides to make a quick turn below the 21-day moving average, there could be a rapid bearish decline that could bring the market back to the critical $2300, $2100 and $1900 support. .
Compared to Bitcoin, Ethereum is trading above the 9 and 21 day moving averages as its price hovers at 7037 SAT. Meanwhile, the Relative Strength Index (14) technical indicator is likely to top 60 if the bulls make more effort. In addition, for the 9-day MA to remain above the 21-day MA, the market price may be following an upward movement.
ETHBTC – Daily Chart
Additionally, the daily chart shows the potential resistance level is at 7700 SAT and above, but a lower sustainable move could likely cancel the bullish pattern and attract new sellers entering the market with the next focus on the 6400 SAT support level and below .
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