Ethereum Forecast March 16, 2023

Ethereum are trading at 1763 and continue to move as part of a strong growth and a bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $217,235,012,928. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continued growth in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a fall in the value of the coin and a test of the support level near the area of 1655. From where we should again expect a rebound upwards and a continuation of the growth of the Ethereum rate with a potential target above 1925.

Ethereum Forecast March 16, 2023

An additional signal in favor of the rise in ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the cryptocurrency growth option will be the fall of Ethereum and a breakdown of the level of 1565. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1275. With a breakdown of the resistance area and closing of quotes above the level of 1845.

Ethereum Forecast March 16, 2023 suggests an attempt to correct and test the support area near the level of 1655. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 1925. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the growth option for the digital currency will be a breakdown of the 1565 area, which will indicate the continued fall of the digital currency with a potential target below the level of 1275.

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