Enquires@newsofbitcoin.com
A correction may have begun on the cryptocurrency market, according to CoinStats.ETH chart by CoinStats
Ethereum 
ETHUSD has followed the drop of other coins, going down by 4.32%.Image by TradingView
On the hourly chart, the rate of ETH is rising after a false breakout of the support of $3,619. However, it is too early to think about a further rise.
One should pay attentiont to the daily bar closure. If it happens above $3,700, the upward move may continue tomorrow.Image by TradingView
On the bigger time frame, the price of the main altcoin keeps falling after a failed attempt to fix above the $4,000 zone. If the candle closes below yesterday’s low, the fall may continue to the support of $3,502.Image by TradingView
From the midterm point of view, the rate has bounced off the $4,003 level. If sellers’ pressure continues, the drop may lead to the test of the $3,200-$3,400 area shortly.
Ethereum is trading at $3,705 at press time.
Related Posts
Read More: Ethereum (ETH) Price Prediction for March 15
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
