Ethereum Price Prediction: ETH bears eye mid-$1,500s on break of key SMA

  • Ethereum stays depressed near 17-day low, keeps 50-day SMA breakdown.
  • Bearish MACD, sustained break of the key SMA direct sellers towards the yearly support line.
  • Buyers and sellers both have multiple barriers but trips for bears seem less bumpy ahead of immediate support line.

ETH/USD remains on the back foot around $1,670 during late Tuesday’s trading. In doing so, the altcoin keeps the downside break of 50-day SMA, amid bearish MACD, near the lowest levels last seen on March 07.

Given the clear break of the short-term key Simple Moving Average (SMA), coupled with downbeat MACD, Ethereum sellers look set to attack an upward sloping trend line from December 23, 2020, currently around $1,550.

However, any further downside will be questioned by an ascending support line from January 11 and 100-day SMA, respectively near $1,480 and $1,365.

Meanwhile, an upside clearance of 50-day SMA, at $1,723 now, will not be able to invite ETH/USD bulls as a 12-day-old resistance line and a falling hurdle, established since February 20, close to $1,835 and $1,905 in that order, will challenge the recovery moves.

If at all the Ethereum buyers cross the $1,905 resistance, the record top marked in February around $2,040 will be in the spotlight.

ETH/USD daily chart

Trend: Further downside expected

additional important levels

Today last price 1665.56
Today Daily Change -15.46
Today Daily Change % -0.92%
Today daily open 1681.02
Daily SMA20 1758.29
Daily SMA50 1717.46
Daily SMA100 1354.8
Daily SMA200 892.31
Previous Daily High 1806.39
Previous Daily Low 1657.17
Previous Weekly High 1931.97
Previous Weekly Low 1706.25
Previous Monthly High 2041.42
Previous Monthly Low 1271.31
Daily Fibonacci 38.2% 1714.17
Daily Fibonacci 61.8% 1749.39
Daily Pivot Point S1 1623.33
Daily Pivot Point S2 1565.64
Daily Pivot Point S3 1474.11
Daily Pivot Point R1 1772.55
Daily Pivot Point R2 1864.08
Daily Pivot Point R3 1921.77



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

MATIC continues to march higher with $3 in sight

MATIC price action has certainly been some of the most dramatic post flash crash. Multiple vigorous attempts by short-sellers to push MATIC lower have all failed and have led to MATIC pushing towards new all-time highs. MATIC price action, in case you ...

More Polygon news

Dogecoin bears leave the scene as DOGE rises towards $0.24

Dogecoin price holds steady near the $0.18 value area, halting any further downside movement. Buyers appear to be showing up and preparing Dogecoin for a big launch higher. Explosive bullish entry present on the Point and Figure chart.

More Dogecoin news

XRP constricts before breaking out to $1

XRP price, like almost every other cryptocurrency, showed strong signs of recovery after the shock of this past Saturday’s flash crash wore off. The past three days of congestion after a strong rally from the lows may begin a new uptrend for XRP.

More Ripple news

Ethereum in a pennant, with bullish breakout as tailwinds reemerge

Ethereum (ETH) price has formed a pennant that quit rapidly after the big sell-off during the weekend. Between $4,646 and $4,060, the price ranges from lower highs and higher lows.

More Ethereum news

The bull and the bear case for BTC

Bitcoin price saw a recent bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. With directional bias and choppy price action, BTC is likely to experience massive volatility as the situation resolves over time. 

Read full analysis