The post Ethereum (ETH) Price Prediction for March 28 appeared on BitcoinEthereumNews.com.

Currently, Ethereum (ETH) is trading at $1,877.20, after a 6.46% decrease in the last 24 hours. The decline suggests that sellers have recently taken control—possibly due to profit-taking or external market shocks—despite some underlying strength. Over the past 30 days, ETH has declined by 22.81%, pointing to significant medium-term bearish pressure. Ethereum Price Analysis The contrasting signals reveal that while short-term sentiment is negative, broader market fundamentals (including investor concerns about regulatory issues and market volatility) remain in play. Moving Averages and Trendlines Moving averages are instrumental in filtering out market noise and highlighting the underlying trend: Short-Term (4-Hour Chart): On the 4-hour timeframe, the 50-period moving average has recently begun to stabilize, even though the price is under pressure. A gradual rebound in this moving average could indicate that short-term buyers are stepping in. Daily Chart: On the daily chart, ETH is trading close to its 50-day moving average, which currently acts as a dynamic support level. However, the longer-term 200-day moving average is still positioned above the current price, indicating that the overall trend remains bearish. A sustained break above the 200-day MA would serve as a strong bullish signal and might mark the beginning of a trend reversal. Trendlines: Recent price action has seen Ethereum trading within a descending channel that has developed over the past few weeks. The upper boundary of this channel, roughly in the $1,900–$1,940 range, acts as immediate resistance. A decisive breakout above this level, particularly if supported by strong trading volume, could signal the start of a bullish phase. Conversely, if ETH fails to hold the lower boundary (around $1,850), further declines may be expected. Key Support and Resistance Levels Identifying support and resistance is crucial for forecasting price movements: Support: The primary support for Ethereum is located around $1,850–$1,870. This level…

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Filed under: News - @ March 29, 2025 1:27 am