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Ethereum Price Forecast March 6, 2018, Technical Analysis

By:
Christopher Lewis
Updated: Mar 6, 2018, 05:27 UTC

Ethereum markets did almost nothing during the trading session on Monday, as we continue to hang about an area that has been very tight for several days. The markets continue to be a bit sideways, and until we get some type of momentum, it’s likely that we will continue to be so.

ETH/USD daily chart, March 06, 2018

ETH/USD

The Ethereum markets did very little during the trading session on Monday, as we continue to hang about the $850 level. I think there is plenty of noise in this market to keep it very tight, because quite frankly there isn’t enough volume or fundamental reason to trade this market right now. If we can break out to the upside, we will more than likely trying to reach the $1000 level, an area that should be resistance. If we can break above the top of the range, clearing the $1000 level, the market should continue to go much higher. Alternately, if we break down below the $850 level, the market more than likely will go down to the $800 level.

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ETH/USD Video 06.03.18

ETH/USD daily chart, March 06, 2018
ETH/USD daily chart, March 06, 2018

ETH/EUR

Ethereum markets did very little during the trading session on Monday, as we continue to drift sideways in general when it comes to the crypto currency markets. I believe that the €725 level is resistance, and if we can break above there, I think the market then would be free to go to the €800 level. Otherwise, if we pull back from here, I think there is a bit of support at the €600 level underneath. A breakdown below that level is very negative, but I think in the meantime we are simply going to look at going nowhere as volume has all but disappeared in this market. I think that the general attitude of the market is “wait and see.”

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ETH/EUR daily chart, March 06, 2018
ETH/EUR daily chart, March 06, 2018

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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