Skip to main content

Ethereum Price Climbs Above $3,000: Analysts Wait for Retest

 


The cryptocurrency market continues to climb higher on March 23, despite headwinds from multiple quarters. Global conflicts, rising inflation and economic uncertainty are currently weighing on the financial markets and underscoring the importance of a diversified investment portfolio.


Altcoins have seen some gains over the past few days. Leading the way, Ether ( ETH ) managed to clear its key support and resistance zone at $3,000 where the bulls are now scrambling for the upper hand.

What do analysts say about the further development of Ether and can one expect further increases in the short term or not?


$3,125 needs testing

Crypto analyst Michaël van de Poppe provided a general overview of recent price developments. He uploaded the following chart , which shows "Ethereum Climbs Up After Holding Crucial Level".


Van de Poppe commented:


"Seems to me we're going to test $3,125 next."

Not all traders are convinced that a higher price target can be directly considered. Twitter user "Chartpunk" uploaded the chart below, which shows Ethereum's 10-day uptrend. He warned against entering an overheated market.

Chartpunk said:


"Now is not the time to get into FOMO. If you're looking to jump on the trend, be sure to retest the entry zone on this chart."

On Chartpunk's chart, the $2,975 area is marked as a re-entry point.


Sentiment neutral to $3,287

Crypto trader and Twitter user "Mad Max Crypto" was more dovish about recent price action and uploaded the chart below. A "neutral tendency until the mark of 3,287 US dollars is exceeded" is drawn on this.

The cryptocurrency consultant "Altcoin Sherpa" also shares this forecast in a chart that he uploaded . This highlights Ether's series of higher lows and higher highs.


Altcoin Sherpa said:


“I think one could argue that the market structure is being broken to the upside on the shorter timeframes. But personally I'm waiting for the higher levels. Regardless, fundamentals for ETH 2.0 will be strong pretty soon.”

Related : ETH Price Climbs to $3,000: Major Crypto Fund Sends $110M in Ethereum to Lido Staking Pool


Possible drop to $2,600

Crypto trader Follis has highlighted which levels to watch below. He has uploaded the chart below which shows the possibility of a drop to $2,600.


“However, most hourly windows are bullish and I expect more gains unless we close below $2,800. The $2,600 area will be interesting if there is a dip. The 0.79 Fibonacci level has works well in this macro range."

The total market cap of all cryptocurrencies is now $1.919 trillion and Bitcoin’s market share is 41.7 percent.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more