Fun

Bitcoin, Ethereum Technical Analysis: ETH Stays Above $2,900 as Traders Eye $3,000 Ceiling 

News Feed - 2022-03-22 12:03:32

Bitcoin, Ethereum Technical Analysis: ETH Stays Above $2,900 as Traders Eye $3,000 Ceiling 


Ethereum remained above $2,900 to start the week, as the world’s second largest cryptocurrency consolidated its recent gains. Bitcoin was also consolidating, as it continued to trade above $41,000 during Monday’s session. Bitcoin


Despite a selloff to end last week, prices of BTC continued to hover above $41,000 on Monday, as market bulls appear to still be holding onto their positions.


Following a low of $40,668.04 earlier in today’s session, BTC/USD rose to an intraday high of $41,607.47 on Monday.


Although BTC is now trading around the $41,379 area, it remains 0.45% lower than yesterday’s high above the $42,200 ceiling. BTC/USD – Daily Chart


Today’s session saw bitcoin fall below its floor of $40,580, which is its lowest level since last Friday, as markets were preparing for the weekend.


Looking at the chart, the reversal in price momentum came as BTC hit its long-term resistance point of $42,200, leading to bears re-entering the market.


In addition to this ceiling, the 14-day RSI was also unable to move past its own ceiling of 55, and now sits at 51.5.


Should this momentum persist, we could see bitcoin below $40,000 in the upcoming days.


Ethereum


Although BTC fell, ETH remained marginally higher as of writing, as prices continued to trade above the $2,900 level.


On Monday, ETH/USD hit an intraday high of $2,934.69, as prices rebounded following a selloff during Sunday’s session.


The price of ETH fell as the asset approached the $3,010 ceiling, which comes as traders appear to have closed positions, leading to a turnaround, as seen before at this level. ETH/USD – Daily Chart


Despite the reversal which came, there was enough bullish pressure in ETH to keep prices from falling below $2,900, with ETH/USD now up over 14% in the last seven days.


This momentum could see further gains come this week, as bulls seem to still be present at this level. Tags in this story Bitcoin, BTC, ETH, Ethereum, Technical Analysis


Could we see a full ETH breakout above $3,000 this week? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Biggest Movers: DASH, CVX and ALGO Lead Monday"s Gainers, APE Falls Further MARKET UPDATES | 5 hours ago Biggest Movers: AVAX Almost 20% Higher, as RUNE and ZEC Near 15% Gains on Saturday MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTerra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked Tokenomics Next article$5.8 Billion Burned: Second Largest Crypto Network Records 2 Million Ethereum Destroyed in 7 Months Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItIndia Targets 700 Crypto Investors for Non-Payment of Taxes: Report


India"s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. "We have a long list of people who were transacting in crypto assets but were not paying tax," said ... read more.Binance Explores Acquisition of Brazilian Securities Brokerage Firm Binance Now Fully Licensed by Central Bank of Bahrain to Offer Crypto Services US Justice Department Returns Stolen Bitcoin to Victim of Government Imposter Scam Kenyans Lost $120 Million to Cryptocurrency Scams in the Past Financial Year — Government Official

News Feed

Former FTX exec Ryan Salame to be sentenced on May 1
Turner Wright5 hours agoFormer FTX exec Ryan Salame to be sentenced on May 1Out of all the individuals charged related to fraud at FTX and Alameda, Ryan Salame was the only former executive who didn’t testify at Sam Ba
Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally
Este artículo también está disponible en español. Dogecoin has been experiencing significant volatility, with a 44% surge followed by a 9% dip since October 10. This dram
Prashant Jha12 hours agoSam Bankman-Fried lawyers pitch for changes to judge’s jury instructionBankman-Fried’s attorneys have made several requests in the past few months, ranging from early bail to vegan food and pr
Elon Musk’s New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours
Elon Musk"s New Puppy Tweet Sends Shiba Floki Token Soaring, FLOKI Jumps More Than 900% in 24 Hours The CEO of Tesla, Elon Musk shared a picture of a Shiba Inu pup and said “
Derek Andersen6 hours agoWorldcoin’s Orb had serious security vulnerability in operator onboarding: CertiKThe smart contract auditor found that operator verification could have let operators into the system without a v
Trustwave Spiderlabs Researchers Warn of New Strain of Malware That Drains Crypto Funds
Trustwave Spiderlabs Researchers Warn of New Strain of Malware That Drains Crypto Funds According to researchers at Trustwave Spiderlabs, a strain of malware known as Rilide is bel
Chainlink Price Hits $30 For The First Time Since 2022 — What Next?
Este artículo también está disponible en español. The Chainlink price has been on quite a run in the past few months, but so has the entire cryptocurrency market. While t
SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection
SEC Chairman Gary Gensler Stresses Crypto Trading Platforms Must Be Regulated to Ensure Investor Protection The U.S. Securities and Exchange Commission (SEC) is focusing on bringin
‘Bitcoin Beats Gold on Every Single Measure,’ Says Macro Strategist Raoul Pal
"Bitcoin Beats Gold on Every Single Measure," Says Macro Strategist Raoul PalGlobal Macro Investor CEO Raoul Pal has explained why he believes bitcoin is better than gold in every w
Whales Snap Up 30 Million XRP As Ripple Launches Its RLUSD Stablecoin
Este artículo también está disponible en español. XRP whales have been on a buying spree as blockchain payments company Ripple officially launchedits dollar-backed stable
New Push for Second Stimulus Checks: Analysts Predict When Another Relief Package Will Pass
New Push for Second Stimulus Checks: Analysts Predict When Another Relief Package Will Pass Many Americans are in need of second stimulus checks and a new corona
Microstrategy CEO Dispels Rumor of Company Quietly Selling Bitcoin
Microstrategy CEO Dispels Rumor of Company Quietly Selling Bitcoin The CEO of the Nasdaq-listed company Microstrategy has dispelled the rumor that his company has been quietly sell