Ethereum analysis for March 26, 2021


On the four-hour time frame, we see that Ethereum is below all moving averages with support at 38.2% Fibonacci level at $ 1577. Where after that, we see a smaller pullback approaching the smallest moving averages of MA20 and EMA20.

Based on the last couple of candlesticks, we can be a little optimistic about continuing the bullish trend.

As such, our first target is 50.0% Fibonacci level at $ 1665, and then at 61.8% level at $ 1753. The smaller trend line is on our top, and we can use it as potential resistance and then pay attention to see if we see a break above. If we see a weakening of Ethereum, we look again at the 38.2% level, and the break below us descends to the previous support zone at the 23.6% level at 1468%.



We see that Ethereum is below the moving averages on the daily time frame, but Ethereum found support at $ 1580 and support with a lower trend line. The break below pulls us down towards the moving averages of the MA200 and EMA200, and otherwise, our upper targets are around the upper trend line of resistance around $ 1800.



The break above us leads to $ 2000 for Ethereum, but it’s still early for something like that. About the news about Ethereum and various statements, we can single out the following: the number of daily active addresses did not change much.

Despite the recent drop of 20%, the number of users communicating with the ETH blockchain remains the same, which can be considered a bull sign. Regardless of the bull’s perspective, IntoTheBlock’s In / Out of the Money Around Price (IOMAP) model gives a pretty bearish picture for the price of Ethereum.

Resistance levels are stacked on top of each other, from $ 1,640 to $ 1,784. In fact, the 1.2 million addresses that previously bought 13.25 million ETH for ETH are “no money.” Therefore, the ETH price should pass the initial set of resistance zones and then face a cluster of underwater investors to have any chance to jump higher. If they don’t, it will add to the already dark scenario and start the descent. { font-family: ‘Open Sans’, sans-serif; }

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