Ethereum Price Analysis – March 14

Azeez Mustapha

Ethereum, ETHUSD, CryptoCompare chart

ETHUSD Medium-term Trend: Ranging

 Resistance: $705, $700, $695

 Support: $675, $680, $685

Today, ETHUSD pair is still in a sideways trend as it was yesterday. The price has been fluctuating between the key levels of support at $650 and resistance at $750 for the sixth day.If the price breaks the resistance at $750 it  will rise to test another resistance at $800 but if the price breaks the support level it will fall to as low as $600. The weekly chart shows a choppy price action; but price currently moving horizontally.

Trading may be suspended because the bulls and bears are undecided about the direction of the market. Meanwhile it is currently trading at $692.01. The RSI period 14 is level 53 which indicates that the average gains are more than average losses.

ETHUSD Short-term trend: Ranging

Ethereum, ETHUSD, CryptoCompare chart

In the short term trend, Ethereum is in a sideways trend. The daily chart also has a choppy price action. The price is not evenly apart between the resistance and support levels. The price is currently trending horizontally and as such cannot be traded. Meanwhile, the RSI period 14 is level 37 which indicates that the market is nearing the oversold condition suggesting bulls taking over the market.

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