empty
 
 
17.03.2023 07:41 PM
ETH/USD rebounds as expected, 1,789 as key resistance

Ethereum rallied in the short term and now is trading at 1,722 at the time of writing. The altcoin was expected to turn to the upside after its last sell-off. ETH/USD increased by 9.46% from Wednesday's low of 1,614 to 1,767 today's high.

In the last 24 hours, ETH/USD is up by 3.50% and by 21.43% in the last 7 days. BTC/USD's further growth should help the price of Ethereum to approach and reach new highs as well.

ETH/USD Found Temporary Resistance!

This image is no longer relevant

Technically, the last retreat was natural after its amazing rally. It has retested the broken downtrend line. You knew from my previous analysis that the retreat could be over above the downtrend line.

The price came back to retest it trying to confirm its breakout before resuming its growth. Now, it has reached the weekly R2 (1,762) where it has found resistance again.

ETH/USD Outlook!

A valid breakout above 1,789 activates further growth and is seen as a buying opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

BTC update for March 31,.2023 - Rejection fo the resistance zone

Technical analysis: BTC/USD has been trading upside sideways at the price of $28.165. I see potential for the downside rotation. Due to the rejection fo the key resistance zone

Petar Jacimovic 07:46 2023-03-31 UTC+2

Ethereum: upside continuation pattern

Ethereum continues to move sideways in the short term. It's trading at 1,788 at the time of writing and it seems undecided. The bias is bullish and, so the current

Ralph Shedler 19:29 2023-03-30 UTC+2

Ethereum analysis for March 30th, 2023.

Ethereum is trading around $1,800. Over the last couple of weeks price has mode no real progress as it mostly moves sideways. Price has formed a trading range between $1,860

Alexandros Yfantis 14:21 2023-03-30 UTC+2

Bitcoin once again unsuccessfully tested the $29k level: is the asset going to decline?

The local consolidation of the main cryptocurrency in the $26.6k–$29k range continues. Over the past day, Bitcoin made a bullish spurt and stabbed the $29.1k level. At the same time

Artem Petrenko 12:25 2023-03-30 UTC+2

Technical Analysis of ETH/USD for March 30, 2023

Crypto Industry News: The European Banking Federation (EFB) has published a document detailing its vision for the digital money ecosystem of the future, and in particular the retail digital Euro

Sebastian Seliga 08:29 2023-03-30 UTC+2

Technical Analysis of BTC/USD for March 30, 2023

Crypto Industry News: The head of the US Securities and Exchange Commission (SEC) Gary Gensler will address the House of Representatives Financial Services Committee for the first time

Sebastian Seliga 08:28 2023-03-30 UTC+2

BTC update for March 30,.2023 - Key resistance level on the test

Technical analysis: BTC/USD has been trading upside as I expected and the price reached upside objective at $28.600. Key resistance level is on the test. Due to the test

Petar Jacimovic 08:10 2023-03-30 UTC+2

Peter Schiff: Bitcoin will fall to zero sooner or later

The image is significantly more powerful in the 4-hour time frame. The value of bitcoin has rapidly increased and has easily surpassed the $25,211 mark. Of course, the "black swan"

Paolo Greco 16:48 2023-03-29 UTC+2

Microstrategy continues to buy Bitcoin coins

The price of bitcoin has recently increased to $29,000, not far from where it has been for the past two weeks. Recent price changes have not been significant

Paolo Greco 16:37 2023-03-29 UTC+2

Bitcoin analysis for March 29th, 2023.

Bitcoin is trading around $28,300. Short-term trend is neutral as price is mostly moving sideways. Price has made no real progress over the last 10 sessions. Price is trading inside

Alexandros Yfantis 14:30 2023-03-29 UTC+2
Can't speak right now?
Ask your question in the chat.