Ethereum price analysis; More ether power than bitcoin

Ethereum price analysis : Yesterday, the price of Ethereum decreased by 5.2%. Following the crash, Ethereum fell to its previous resistance of $ 1,775. However, analysts describe Ethereum’s position as strong against Bitcoin.

According to Crypto Potato, Ethereum spent Saturdays and Sundays with good performance. This performance was such that on Saturday the price of this cryptocurrency went up to $ 1,940. On Monday, we saw the price fall to $ 1,900. Ethereum then fell 5.2 percent as it broke its March bearish channel.

Ethereum / Dollar currency pair

Ethereum
The 5% drop pushed the Ethereum price back to its previous resistance of $ 1,775. The area served as a support last week. This level is well visible in the 4-hour time frame. Ethereum prices have recovered somewhat since the previous crash.

In the short term, the first support area is $ 1,755. After that, the $ 1,695 area (Fibonacci 0.382), the $ 1620 area (Fibonacci 0.5) and the $ 1,540 area (Fibonacci 0.618) will act as atrium supports.

Ethereum, on the other hand, has the first resistance at $ 1,800. Subsequent resistance is at $ 1,695 (Fibonacci 0.382), $ 1,875 (Fibonacci 1,414), $ 1,940 (March high) and $ 1,960 (Fibonacci 1,272 and above, respectively). The historical price of opening the candlestick)

The Relative Strength Index (RSI) has also come down to the mid-range, indicating traders are skeptical.

The price of Ethereum relative to bitcoin fell from 0.046 bitcoin in early February to 0.03 bitcoin by the end of February. In the first week of March, Ethereum prices revived but still failed to cross the 0.035 bitcoin resistance barrier.

In this area, we saw a decrease in the price to the support area of ​​0.0305 bitcoin (Fibonacci 0.886). Recently, the price of Ethereum relative to Bitcoin reached above the 200-day moving average and the 0.0323 bitcoin area.

Ethereum price analysis; More ether power than bitcoin

The first resistance against Ethereum is in the range of 200-day moving average and 0.0323 bitcoin on 0.0337 bitcoin (November high and 100-day moving average). Then 0.035 bitcoins, 0.0361 bitcoins (peak of March 2019) and 0.038 (Fibonacci descending 0.5) are in front of Atrium.

The first Ethereum price support is 0.0218 bitcoin (peak in December 2020). Behind this support area are the 0.031 bitcoin (Fibonacci 0.786), 0.0305 bitcoin (0.886 Fibonacci) and 0.03 bitcoin.

The relative strength index has now returned to the mid-range, indicating investor uncertainty. In order for Ethereum prices to continue to rise and reach above the 200-day moving average, the relative strength index must be increased.