Ethereum (ETH) follows Bitcoin and is up 12 percent on a weekly basis

Ethereum (ETH): Back in the red resistance zone

• Course (ETH): $3,149 (previous week: $2,807)
• Resistances/Goals: $3,140, ​​$3,250, $3,361, $3,408, $3,510/$3,577, $3,752, $3,898, $4,043, $4,158, $4,339, $4,547, $4,719, $4,864, $5,073, $5,3904, $6,702 $8,666, $11,318
• Supports: $2,993, $2,885/2,815, $2,733, $2,659, $2,571, $2,448, $2,305, $2,161, $2,044, $1,930, $1,725/1,713, $1,545, $1,425

• Price jump back above USD 2,993 ensures follow-up purchases.
• The chart image only brightens up again more clearly above USD 3,273.
• USD 2,885 is now acting as the first relevant support level.

Ether price is joining Bitcoin (BTC)’s bullish price action, rising 12 percentage points north in the past seven trading days. Ethereum follows last week’s analysis, breaks through the red downtrend line and subsequently breaks through the supertrend at USD 3,013. Today, Friday, March 25, Ether price is pushing back into the red resistance zone between USD 3,140 and USD 3,250. Ethereum is currently trying to overcome the EMA200 (blue) at USD 3,155 in order to generate further price potential in the direction of the cross-resistance at USD 3,245. On the downside, Ethereum is now well secured in the $2,885 area. As long as the ether course does not fall dynamically below this support mark, the view should be directed further north.

Bullish Variant (Ethereum):

The bulls took advantage of the bullish momentum on the classic financial market and the upward movement of the key crypto currency Bitcoin and jumped significantly north in the last few trading days. The recapture of the supertrend provided additional price momentum in the last three trading days. Ethereum has now reached the next relevant hurdle in the area of ​​USD 3,140. In the short term, the ether chart looks a bit overbought, which is why slight profit-taking should not come as a surprise. However, if the ether price does not bounce off the EMA200 (blue) to the south again, but can sustainably break through this strong sliding resistance in the coming trading days, there will be another directional decision for the next trading weeks at USD 3,250.

There is strong cross-resistance here with the history high of February 10, 2022 and the 50 Fibonacci retracement. Again, it will be difficult for the bulls to break through this price level directly in the first attempt. If the buyer succeeds in dynamically breaking this central price level, the turquoise zone immediately comes into view. A move above USD 3,410 will activate the USD 3,510 zone as the next key upside target. Here, with the MA200 (green) and the 61 Fibonacci retracement, there are two relevant course marks. In order to sustainably break through this strong resistance area, the key cryptocurrency Bitcoin (BTC) must also generate a new historical high above USD 46,000.

Ethereum targets higher price targets

If Bitcoin and thus Ethereum continue to trend north in the coming trading weeks and sustainably overcome the upper edge of the turquoise resistance area, the Ether price will continue to gain momentum and aim for its next price target at USD 3,752. This price mark acts as an important resist on the way to USD 3,898. At the latest at this resistance level, the bears will do everything to cap the ether course. If the bull camp overruns this technical hurdle with strong buying momentum, price targets at USD 4,043 and USD 4,158 will be activated.

This resistance area is to be regarded as the first relevant price target for the coming period. Only when Ethereum also overcomes this area at the end of the day is a subsequent increase up to USD 4,339 conceivable. This means that the overriding price target of USD 4,547 would be within reach again. If there is no sustained profit-taking back below USD 3,898, the chance for a trend-following move to the higher-level target area between USD 4,719 and USD 4,864 continues to increase. However, as long as Ethereum does not dynamically break above its all-time high, the $5,000 area will continue to act as a maximum bullish price target.

Bearish Variant (Ethereum)

The bears had little to counter the rise in prices in the last few trading days. Only in the last few hours of trading does the seller try to avert a breakout above the EMA200. As long as Ethereum does not sustainably break out above the red resistance area to the north, further resistance from the seller side can be expected in this chart area. If a dynamic price reversal back to the south is successful, the first price support is already waiting at USD 2,993. Ethereum should only fall back to USD 2,885 if this support level can be undercut dynamically. A first relevant directional decision for the bears can be expected here. In addition to the EMA20 (red) and the EMA50 (orange), there is also strong horizontal support at USD 2,815.

Should the bears succeed in undercutting this area over the long term, the horizontal support at USD 2,733 will again come into focus as a target area. In order to initiate a renewed, more sustainable sell-off, Ethereum must first undercut this support at the daily closing price. This is also where the super trend is currently taking place. In addition, two other relevant support levels are already waiting at USD 2,659 and USD 2,578. Only a daily closing price below USD 2,578 improves the situation for the seller. Ethereum should then target the yellow support zone again. If Ethereum reaches the cross-support from the history low and the green uptrend line at USD 2,448 and also gives it up, the chance of a sell-off to the support mark at USD 2,305 increases significantly.

More courses likely

If the ether price also breaks through USD 2,305 at the daily closing price, the next price target will be activated in the form of the historical low of January 24, 2022 at USD 2,161. Should the bears then succeed in breaking through this support as well, the green support zone will come back into the focus of investors. Ethereum could correct to $2,044 initially, or even drop back to $1,930 immediately. If the bulls do not return to the market at USD 1,930, a retest of the supports at USD 1,795 and USD 1,713 cannot be ruled out in the medium term.

Here, the bulls should resist to prevent a dip below the summer 2021 low. Otherwise, the probability of a correction extending to USD 1,545 increases noticeably. A renewed bear market could even cause Ethereum to break away towards USD 1,425 in the coming months. As in the last few trading weeks, the maximum bearish price targets for the coming months are USD 1,359 and USD 1,223. Currently, the bulls have tasted blood and will do everything possible to bring Ethereum into the turquoise trading zone. Investors may consider retracements towards USD 2,885 for new entries.

Indicators (Ethereum)

Both the RSI indicator and the MACD are showing buy signals on the daily chart, which supports the bullish view on the ether chart. The sustained price strength of the last few trading days has also pushed the RSI back into the neutral zone in the weekly chart. If a leap back above the neutral area succeeds in the coming trading weeks, the chart picture will also continue to brighten in perspective.