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    • Ethereum Fluctuates Below the $3,000 High as Buyers Face Stiff Resistance

    Ethereum Fluctuates Below the $3,000 High as Buyers Face Stiff Resistance

    • Posted by DigitalLeonard
    • Categories ETH, ETH/USD, Ethereum, Price Analysis, Trade Ideas, Trading Briefs
    • Date March 23, 2022
    • Comments 0 comment

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    Ethereum fluctuates below $3,020 resistance
    ETH/USD is in a sideways trend

    Ethereum ETH) Current Statistics
    The current price: $2,977.91
    Market Capitalization: $357,584,083,123
    Trading Volume: $13,716,308,524
    Major supply zones: $4,000, $4,500, $5,000
    Major demand zones: $3,500, $3,000, $2,500

    Ethereum (ETH) Price Analysis March 23, 2022
    Ethereum’s (ETH) price is still trading in the bullish trend zone as buyers face stiff resistance. Since March 18, the uptrend has not exceeded the high of $2,984. Subsequent price movement has been below the $3,000 resistance zone. The uptrend has been restricted below this zone. Meanwhile, on March 18 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that ETH will rise but reverse at level 1.272 Fibonacci extension or $3,118.46 From the price action, the bulls are struggling to break the $3,000 resistance zone.

    Ethereum Fluctuates Below the $3,000 High as Buyers Face Stiff Resistance
    ETH/USD – Daily Chart

    ETH Technical Indicators Reading
    Ether is at level 58 of the Relative Strength Index for period 14. Ether is in the bullish trend zone and capable of a further upward move. The crypto’s price is above the moving average which indicates a further upward movement of prices. Ether is above the 25% range of the daily stochastic.The market is in a bullish momentum.

    Conclusion
    On the 4-hour chart, Ethereum is in an upward move as buyers face stiff resistance. Ether price is in a sideways move below the resistance zone. Meanwhile, on March 21 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that ETH will rise to level 2.0 Fibonacci extension or $3,156.70.

    Ethereum Fluctuates Below the $3,000 High as Buyers Face Stiff Resistance
    ETH/USD – 4 Hour Chart

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