Ethereum Must Hold $1,500 Or Risk A Decline To $1,300

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,396,741,935	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,396,741,935

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.021	2.30%	0.934	0.931	0.933

Price Change

Price Change %

Current Price

Bid Price

Offer

0.021

2.30%

0.934

0.931

0.933

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.941	0.905	0.914	0.913	0.385000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.941

0.905

0.914

0.913

0.385000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:23:18	3.26	0.934	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:23:18

3.26

0.934

USD

Price x Volume	Volume	Base Symbol	Related Pairs
179,821.34	198,214.24	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

179,821.34

198,214.24

Ethereum Must Hold $1,500 Or Risk A Decline To $1,300

03/11/2022 5:00pm

NEWSBTC

Ethereum is on an obvious bull path given its performance in the last couple of weeks. The digital asset took a turn for the better more than a month after the Merge was completed and accumulation among investors was already in full swing. ETH’s price eventually surpassed $1,600 before encountering rejection and dropping down below. Ethereum Needs To Hold $1,500 Now that the digital asset has been beaten down back below $1,600, support has moved lower. $1,500 is currently serving as the support level for Ethereum at this point. This now makes it the level to hold for bulls and the level to beat for the bears. Related Reading: Institutional Investors Remain Bullish As Short Bitcoin Sees Outflows If the digital asset is unable to hold this level and bears are able to drag its price down below, then ETH will likely see $1,300 on its way down. Below, $1,500, support is weak given the recent sell-offs that have followed the recovery in price. Thus, it lies just above $1,300 before the losses reach a block. As for the current resistance, it still lies above $1,600 for any significant pushback. This is because Ethereum’s price remains firmly above its 100-day moving average, with a firm middle point between this and the 200-day MA sitting at $1,800. Thus, bears continue to fight to hold any level that could prevent such a recovery. ETH continues to hold above $1,500 | Source: ETHUSD on TradingView.com In addition to this, the sell-offs have been slower than what was recorded back during the period of the Merge. This is why despite an unfavorable announcement by the Fed on Wednesday, there is still a lot of value left from last week’s gains in the crypto market. Related Reading: Crypto World Meets Boris Johnson: A Match Made In Heaven Or Hell? As long as there is no drastic shift in investor sentiment at this point leading to massive sell-offs, Ethereum is likely to continue holding above $1,500, at least for the short term. The weekend performance will be another thing entirely given that this is a period of low momentum for the market. So the current indicators for ETH holding through Friday and could deviate going into the weekend. ETH’s biggest support still comes from investors holding out hope that the gains recorded in digital assets such as Dogecoin will eventually spill into the broader altcoin market. If so, then ETH could see a rally above $1,600 once more before the weekend is in full swing. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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