Baxia Markets
March 16, 2022

Ethereum breaks resistance at $2,660

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The cryptocurrency is on a three-day winning streak where it managed to make 9.6%, the price now trades above the short-term moving average and it's getting closer to the new resistance at $2,800.


The Bollinger bands are wide and starting to open up, particularly the upper band, suggesting that an uptrend might continue in the short to mid-term. The pair trades in between the bands, suggesting that the price is at a fair level, which could incentivize investors to open long positions on the asset.


ETH March 15th


The relative strength index is at 53% which will allow the pair to continue climbing for the short and mid-term until it reaches an overbought status at 70%, the parabolic SAR indicator suggests that the price will continue climbing, strengthening the Buy signals.

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cryptocurrency, trading conditions, technical analysis, trading indicator

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