Ethereum Price Prediction — ETH developers target March 2023
Ethereum price forecast: By demonstrating durability at respective local support, the BTC and ETH values counteract yesterday’s decline. These currencies see enough downward purchasing pressure, which supports the continuation of the current consolidation period.
The worldwide cryptocurrency market was worth $846.98 billion at 11:33 a.m. EST on Wednesday, up 0.7% over the previous 24 hours. Additionally, the overall crypto market volume fell 18.79% to $32.04 billion. DeFi’s total 24-hour volume is currently $2.04 billion, or 6.37% of the total crypto market volume.
Top Gainers and Losers
Despite Bitcoin’s erratic price movement, the top two gainers among the top 100 cryptocurrencies today are the Trust Wallet Token and Bitcoin SV. The TWT price jumped 7.89% in 24 hours reaching $2.58, while the BSV price rose 6.79% to $43.68. As opposed to this, the Axie Infinity and Toncoin tokens saw worse losses, with the AXS price at $7.98 down 7.05%, and the TON price at $1.83 down 3.14%, respectively.
Bitcoin Price
Buyers had better footing after a positive breakout from the $16900 barrier, and there was a chance to extend the price recovery. The post-retest, however, really failed to get above the $17160 level and started to trade sideways.
The price of bitcoin has been oscillating within a small range between the two previously mentioned levels for more than a week. The coin price has dropped back to the $16900 level after yesterday’s decline to regain bullish momentum.
Investors might discover an entry opportunity close to the $16900 mark since they think the price of bitcoin will soon increase. Additionally, a recovery from the aforementioned support level might push prices 7.5% higher, to $18200, provided the mood of the market improves. The safe traders, however, might postpone their participation until the price of bitcoin crosses the $17200 threshold.
A collapse below $16800, on the other hand, will invalidate the bullish premise.
Ethereum price
By taking a lateral path, the price of Ethereum exhibits comparable price behavior to that of Bitcoin. This altcoin broke over the $1238 resistance during the current rebound to gain further ground, but it was unable to pass the $1300 local resistance.
Additionally, a sharp sell-off in the cryptocurrency market on November 7th caused the coin price to breach the $1238 flipped support. The price of Ethereum, however, increased by 1.58% today and surpassed the aforementioned horizontal level.
The current price of the coin is $1250; the previous breakdown will be deemed invalid if the daily candle closes over the $1238 level. The purchasing pressure will increase as a result of this phony breakdown scenario, driving prices back up to the $1300 level.
In addition, a breach over $1300 may raise prices by 13%, to $1420. Read More
