Mar 29, 2020
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Ethereum Price and Technical Market Analysis March 29th, 2020

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Ethereum Price and Technical Market Analysis March 29th, 2020

  • Buyers corrected the previous wave of fall by 50%, testing the mark $133.
  • Successful daily candle closure on 28 March  gives the chance of a new attempt of  breakdown of $137-145.
  • Fixing below $128, sellers will continue to push the price down to $119.

The trading day on Ethereum market  was more successful and volatile than on Bitcoin market yesterday. First of all, buyers were able to make a much deeper correction of Ethereum price, testing the previous consolidation range $133-140. In addition, buyers have touched a red trend line which sellers have successfully broken. At the moment, buyers are trying to form a new local trend which is more like a correction. Sellers could not reach our first global target $119 after two failed attempts to fix below $125. The initiative has temporarily switched to buyers. Now, they are trying to fix over the liquid range $128-130.

If you look more closely at horizontal volumes on the hourly timeframe, it can be noticed that especially large volumes are in the mark $130-131. And at the moment the price is below these marks:

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