ETH/USD approaches resistance zone

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Source: Dukascopy Bank SA


The price for Ethereum has been fluctuating in the range between the support of the 2,165.00/2,315.00 and resistance at 3,200.00/3,300.00. On March 24, it appeared that the pair was heading to the resistance zone.

A passing above the resistance zone, might encounter resistance at the 3,400.00 mark, before approaching the 200-day simple moving average at 3,490.00 and the 3,500.00 mark.

On the other hand, a decline of the cryptocurrency is expected to look for support in the 50-day simple moving average near 2,820.00. Further below, the 2,500.00 appears to be capable of reversing potential declines.
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