Denys Serhiichuk

Has price of Ethereum (ETH) accumulated enough strength for further rise?

The bounce back continues on the cryptocurrency market, according to CoinMarketCap.

The rate of Ethereum (ETH) has increased by 5.59% over the last 24 hours.

On the hourly chart, the price of ETH is in the middle of the local channel. At the moment, the rate is far from key levels, which means that neither bulls nor bears have seized the initiative.

If buyers want to get back in the game, they need to restore the price above the $3,600 zone.

On the bigger time frame, one should focus on the daily bar closure in terms of the nearest level of $3,547. If it happens above that and with no long wick, growth is likely to continue to the $3,700 area.

From the midterm point of view, one should wait until the candle closes. If the bar closes around current prices, bulls may again seize the initiative, which can lead to a test of the vital $4,000 area.

Ethereum is trading at $3,547 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins. Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

Excerpt from:

Ethereum (ETH) Price Prediction for March 21 - U.Today