ETHEREUM MASSIVE PUMP ANALYSIS !! ETH ETHEREUM PRICE PREDICTION



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Synopsis: Ethereum price displays, make it or break it like behavior as the bulls push, it into critical resistance. Still, there are several factors to consider. Ethereum price recently saw a high at $3075, before coming back to consolidate at a current market value of $3000. Ethereum price right now is $ 2968.83 with a 24 hour trading volume, of $ 17.89B, market cap of $ 356.49B, and market dominance of 18.22%. The ETH price decreased -1.60% in the last 24 hours.

Ethereum reached its highest price on Nov 10, 2021 when it was trading at its all-time high of $ 4867.17. The lowest price since it’s ATH was $ 2174.36 cycle low. The highest ETH price since the last cycle low was $ 3277.99 cycle high. The Ethereum price prediction sentiment is currently bullish.

Ethereum’s current circulating supply is 120.08M ETH. In terms of market cap, Ethereum is currently ranked 2 in the Proof-of-Work sector. According to our current Ethereum price prediction, the value of Ethereum will drop by -8.11%, and reach $ 2727.93 by March 28, 2022. According to our technical indicators, the current sentiment is Neutral, while the Fear & Greed Index is showing Fear. Ethereum recorded 60% green days, with 5.62% price volatility over the last 30 days. Based on our Ethereum forecast, it’s now a good time to buy Ethereum.

Based on today’s classical pivot point, with the value of $ 2971.07, Ethereum has support levels of $ 2896.26, $ 2817.40, and the strongest at $ 2742.58. Similarly, Ethereum resistance levels are at $ 3049.94, $ 3124.75, and $ 3203.61. To get a better idea of what could happen to the Ethereum price in the future, it’s helpful to also explore Ethereum’s price history. In the last month, the ETH USD pair is up 11.36%. The 1 year performance of ETH USD is 63.97%.

ETHUSD hit an intraday high, of $3022.21, as prices marginally moved beyond the long-term resistance level of $3020.This move means that ethereum is now almost 20% higher, in the last seven days, after a run that saw it gain for 8 of the last 9 sessions. Price strength, has also peaked, with the 14 day RSI indicator now tracking above 60, which is the highest it has been since February 9. However, now that we are relatively overbought, and with prices trading at a historically bearish resistance level, the stage could be set for a reversal. On the 4 hour chart, we can see upside rejected this morning, likely leading the Ethereum price action to set another higher low next.

Ethereum price action has seen a strong rally over the past week ever since the $2600, resistance was broken on the 15th of March. After several days of constant upside, the $3000 major resistance was reached on the 23 th of March, meaning a total gain of almost 20 percent.
From there, another higher low was set at the $2850, previous resistance turned support late on the weekend. Bullish momentum resumed yesterday, eventually leading to more upside tested overnight to today. As of now, the previous major swing high at $3040 is not yet broken. After a brief test of the high, the Ethereum price action saw rejection lower, indicating that bulls are not yet ready to set higher high. ETH derives its value from supply and demand, like all other cryptocurrencies. An important factor that influences the demand for ETH is that ETH is needed to cover for all computational fees done on the Ethereum network. This means that any digital asset or smart contract using the Ethereum network requires ETH to operate, and its users are required to own ETH in order to make transactions.

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