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ETH Rally Stalls, Can It Break Above $3,000?

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Key Support levels: $2,500, $2,330

Key Resistance levels: $3,000, $3,400

ETH reached $2,987 (Bitstamp) on Friday and was not able to move greater as the crucial resistance at $3,000 has up until now stopped purchasers from advancing even more. This puts ETH in a big rate variety in between the crucial resistance and assistance at $2,500.

Chart by Trading View

Technical Indicators

Trading Volume: The volume continues to decrease on an aggregate basis and is making lower highs considering that the year began. This is a bearish signal.

RSI: The day-to-day RSI has actually stayed around the 50 points mid-area and appears not able to move far from this variety.

MACD: The day-to-day MACD is bullish, however in the previous couple of weeks, the rate action, along with the MACD, stayed rather flat. This is a lack-of-trend circumstance that needs care.

Ethusd_2022-03-21_15-22-31
Chart by Trading View

Bias

The predisposition for ETH is neutral. It needs to break away from its existing rate variety to alter this.

Short-Term Price Prediction for ETH

ETH has actually up until now stopped working to rally above $3,000 and turn this crucial resistance into assistance. For this factor, bears might still try another test of the assistance at $2,500. Looking at the existing rate action, the cryptocurrency does not have the momentum and conviction to move greater.

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Cryptocurrency charts by Trading View.

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