ETH/USD Faces the South as the Bears Eye $115 Support

ETH Price Prediction – March 21

The ETH/USD bears run in two consecutive days in the red, while the bulls lose momentum.

ETH/USD Market

Key Levels:

Resistance levels: $172, $182, $192

Support levels: $92, $82, $72

ETHUSD – Daily Chart

Yesterday, ETH/USD was above the newly formed major resistance level of $152 but the price of the Ethereum dropped significantly today after touching the $137.13 resistance level. ETH/USD now faces the south trading around $127.54 but yet to cross below the 9-day moving average.

Moreover, the Ethereum (ETH) is following the upward trend within the ascending channel and currently, in its price correction phase, it is attempting to take progressive steps to combat the loss. However, if the bulls energized and power the market, the coin may reach the resistance level of $172, $182 and $192.

In other words, if the bulls fail, the coin price may remain low as it could cross below the moving average of 9-day with the nearest supports at $92, $82 and $72 respectively. The MACD signal lines are making an attempt to move from the negative side to the positive side. According to the RSI (14), the market faces a downward trend, which could trigger more bearish signals in the market soon.

Against Bitcoin, Ethereum has continued to follow a bearish sentiment and moving below the 9-day moving average, as the token suffers from strong selling power. Anytime the bulls make an attempt to gain momentum, the bears will continue to release huge pressure on the market. At the time of writing, Ethereum is trading near the 2144 SAT which is very close to its all-time low.

ETHBTC – Daily Chart

However, the bearish scenario might rally further to 1850 SAT and 1750 SAT support levels. Currently, the Ethereum price is moving below the 38-level of the daily RSI (14). If the bulls could manage to find support at this level, an upward movement to the 2350 SAT and potentially 2450 SAT resistance levels may likely surface. But a glance at the current market suggests a dominant downward trend for the ETH/BTC market.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Michael
Michael is an editor at CurrencyTimes, with a background in energy and economics. He keeps an eye on Blockchain's applications in building smarter and more equitable energy access globally.

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