ETH/USD May Consolidate Above $2600 Level

Ethereum Price Prediction – March 13

The Ethereum price prediction is getting ready to trade above the resistance level of $2700 as the market moves sideways.

ETH/USD Market

Key Levels:

Resistance levels: $3200, $3400, $3600

Support levels: $2000, $1800, $1600

ETH/USD is currently ranging around $2578, and it is likely to climb above the 9-day and 21-day moving averages. Now, the Ethereum price has been moving sideways, and the coin is now struggling to stay above the 9-day and 21-day moving averages. The Ethereum price is likely to remain at the downside as the red-line of the 9-day moving average stays below the green-line of the 21-day moving average.

Ethereum Price Prediction: Ethereum (ETH) May Keep Moving Sideways

According to the daily chart, if the Ethereum price break and remain above the 9-day and 21-day moving averages; it could hit the nearest resistance level of $2800. However, a successful break above this level could open the doors for an additional increase to the $3000 level. In the meantime, any further bullish movement could push the coin to the potential resistance levels of $3200, $3400, and $3600.

Moreover, as the technical indicator Relative Strength Index (14) moves above 40-level, the nearest support could be found at the $2400 level. If there is a bearish break below this support, ETH/USD could test another support before breaking the lower boundary of the channel. However, any further losses could lead the price towards the support levels of $2000, $1800, and $1600.

When compared with Bitcoin, the Ethereum price is moving bearishly, and the coin hovers around 6620 SAT. Therefore, if the price slumps under the 9-day and 21-day moving averages, there is a possibility that additional supports may be created in the long term. However, the next support level below the current price is close to the 6500 SAT. More so, if the price keeps falling, it could hit the critical support at 6000 SAT and below.

On the contrary, if the bulls resume back, a bullish movement above the upper boundary of the channel may play out and the potential resistance level could be located at 7200 and above as the technical indicator Relative Strength index (14) moves above 40-level, which suggests an upward movement.

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