Technical Analysis for ETHUSD for 20th March 2023
Ethereum Rallies 70% from November Lows, ETH Bulls Target $2k
Past Performance of ETH
Ethereum Technical Analysis
Ethereum is solid at spot rates, and traders are confident. Since ETH bars are bullish, riding along the upper BB indicates that buyers are in control and the upside momentum is high. Therefore, if prices are above the February highs, every low above $1.75k, ideally with low volumes, may offer entries. In a bullish continuation formation, the next target could be August 2022 highs at $2k. Further gains may see ETH retest Q1 2022 lows at $2.5k.
What to Expect from ETH
The uptrend is defined, pumped by fundamental factors, helping Ethereum bottom up after the losses of last year. As such, bulls will remain in control, and $1.75k, marking February high, will be a critical support line going forward.
Resistance level to watch: $2k
Support level to watch: $1.75k
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