On March 3, cryptocurrency markets were dominated by buoyant market conditions. The worldwide economy continues to face several obstacles and unpredictability taxes asset values.
Below are the views of several crypto market analysts on what Ether might look like in the coming weeks.
Cointelegraph Markets Pro and TradingView information reveal that Ethers gains on March 2 were lost in trading on March 3. The cost fluctuated from the March 2 high of $3,044, to a daily low at $2,784, showing an 8.5% decline.
ETH/USDT 1-day chart. Source: TradingView
Above $3,200 Ether is thought about a safe buy
ETH/USD 1-week chart. Source: Twitter
Alternatives trader John Wick posted this chart, which reveals that Ether prices have actually reversed in the previous week.
According to the expert,
Crypto expert Crypto White Walker posted the following chart. He mentioned that they wish to see a “wick until $2,600 s” once again before it starts its ascend.
ETH/USDT 1-week chart. Source: Twitter
” The weekly Ethereum uses the same wonderful looking setup with a combination of verified reversal and double bottom. It would not surprise me if it takes us to $5,000 as our first target.
Crypto White Walker specified,
” Currently testing the H1 need zone/orderblock at $2,800. For more upside, the key level to reclaim is 2,830.
In my opinion, the safe buying zone is only once the chart breaks the lower highs of the daily time frame. The weekly RSI should increase to 55.5-56.5 really soon.
ETH/USDT 1-hour chart. Source: Twitter.
Altcoin Troy stated,.
Ether needs to be above $2,830.
Related: Bitcoin promotes $42K Support as Stocks Pullback nudges BTC Price Lower.
Crypto trader and pseudonymous Twitter User Altcoin Troy provided insight into Ethers price action over a much shorter timespan chart. He published the following chart which highlighted the main areas of Ether need.
2016 fractal points towards a upcoming breakout.
” Currently checking the H1 demand zone/orderblock at $2,800. Confluence likewise with the 200-hourly EMA. For more upside, the crucial level to reclaim is 2,830.
TechDev, a crypto expert and pseudonymous Twitter User, published this chart that compares 2016 and the current rate action.
Ethers cost might increase to $28,000 in the next major bull market if the pattern anticipated by TechDev as well as Ali_Charts is true.
In my opinion, the safe purchasing zone is just once the chart breaks the lower highs of the everyday time frame. The weekly RSI ought to increase to 55.5-56.5 extremely soon.
The total cryptocurrency market is now worth $1.864 trillion. Bitcoins dominance rate at 43.1%.
BTC/USD 1-week chart. Source: Twitter.
ETH/USD 1-week chart. Source: Twitter.
Ali_charts made a similar observation and posted the following chart. It stated that “take a look at how similar Ethers debt consolidation stage between March 2016 & January 2017 looks to Ethers present price action.”.
” Primary Idea for Ethereum (and all alts)” Imagine how bearish 2016 was, even printing a lower low …” macro.
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