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Synopsis: Ethereum price today is 2735.48 $, with a 24-hour trading volume of 14 billion $. Ethereum is down 5,47% in the last 24 hours. The current CoinMarketCap ranking is 2, with a live market cap of 327 billion $. It has a circulating supply of 119 million ETH coins. According to our current Ethereum price prediction, the value of Ethereum will drop by -14.27%, and reach 2362.35 $ by March 9, 2022. According to our technical indicators, the current sentiment is Bearish, while the Fear & Greed Index is showing Fear. Ethereum recorded 13/30 43% green days, with 6.69% price volatility over the last 30 days. Based on our Ethereum forecast, it’s now a bad time to buy Ethereum.
Based on today’s classical pivot point P1, with the value of 2879.81, Ethereum has support levels of 2779.17$, 2705.01$, and the strongest at 2604.37$. Similarly, Ethereum resistance levels are at 2953.97$, 3054.61$, and 3128.77$. 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 down -0.15%. The 1-year performance of ETH USD is 78.72%.
Ethereum price may continue to drop lower, to discover crucial levels of support before moving higher. ETH will face multiple tough hurdles before the token attempts, to tag the upper boundary of the governing technical pattern at 3272 $. Ethereum price has formed an ascending triangle pattern on the 12 hour chart, suggesting a long-term bullish outlook. However, momentum has shifted to the downside, and ETH may slide lower to test multiple levels of support.
The first line of defense is at the 50%, retracement level at 2719, then at the 61.8% Fibonacci retracement level at 2587$.
An additional foothold, will emerge at the lower boundary of the prevailing chart pattern at 2398 $, intersecting with the 78.6% Fibonacci retracement level. Further selling pressure may incentivize the sellers, to slice below the downside trend line of the governing, technical pattern, the long term optimistic, outlook may be invalidated.
However, if buying pressure increases, Ethereum price may face immediate resistance, at the 21 twelve-hour Simple Moving Average SMA, at 2747$.Ethereum price will face its toughest challenge, at 2851$ next, where the 50 twelve-hour SMA, 100 twelve hour SMA and the 38.2% Fibonacci retracement, level intersect.
If a spike in buy order occurs, Ethereum price may climb higher toward the 23.6%, Fibonacci retracement level at 3015$. An increase in bullish sentiment may push ETH higher toward the resistance, line given by the Momentum Reversal Indicator, MRI at 3156$ before the token tags the upper, boundary of the prevailing chart pattern, at 3272.
Slicing above the topside, trend line of the governing technical pattern, will put another 33% climb for Ethereum, price on the radar toward 4372$.
#ethereum
#eth
#crypto