Ethereum (ETH) Daily Price Forecast – March 11

  • Today, the ETH price is ranging below the EMAs but above the $137 price level.
  • On the downside, if the bearish trend continues, the crypto’s price will fall to the previous low at $125.

ETH/USD Medium-term Trend: Ranging

  • Resistance Levels: $240, $250, $260
  • Support Levels: $140, $130, $120

Last week, the price of Ethereum was in a bullish trend. The Ethereum price was trading above the $140 price level but was facing resistance at the $142 price level. It was assumed last week that if the bulls failed to break above the $142 resistance level, the crypto’s price would fall. The bulls tested the resistance level on three occasions and were resisted. On March 10, the bears broke the 12-day EMA and the 26-day EMA as the crypto’s price fell to the low of $137.63.

Today, the ETH price is ranging below the EMAs above the $137 price level. On the downside, if the bearish trend continues, the crypto’s price will fall to the previous low at $125. On the other hand, if the bulls break above the EMAs and the price is sustained, the crypto’s price will rise to revisit the previous highs. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The ETH price is below the EMAs which indicate that price is in the bearish trend zone.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the crypto’s price is in a sideways trend zone. On March 10, the crypto’s price fell to the bearish trend and commenced a range bound movement. The bulls  broke above the EMAs and continue its range bound movement.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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