
Ethereum (ETH) Price Prediction for March 7
The rate of Ethereum (ETH) has dropped by 4.67% since yesterday. According to the hourly chart, the price of ETH is in the middle of the channel, indicating that traders are unlikely to witness sharp moves by tomorrow. The volume remains low, which further supports this assumption.
Looking at the bigger time frame, neither a bullish nor bearish trend is apparent. In such situations, ongoing sideways trading in a narrow range of $2,100-$2,300 is the more likely scenario.
On the weekly chart, there are no reversal signals so far. If the bar closes near the support of $1,882, one can expect a level breakout, followed by a dump to the $1,600-$1,800 zone. As of now, Ethereum is trading at $2,181.
In conclusion, it appears that ETH’s price may not experience any significant movement in the short term. Instead, traders should prepare for another day of sideways trading within its established range.
Source: https://u.today/ethereum-eth-price-prediction-for-march-7-0