Bitcoin (BTC/USD) Backs Down, Ethereum (ETH/USD) Sets Range

BTC/USD FOUR-HOUR PRICE CHART

Bitcoin BTC/USD Four Hour Chart

Chart prepared by James StanleyBitcoin on Tradingview

ETHEREUM DIGS INTO THE RANGE

Ethereum has not set a fresh high in the month of March. But there’s still a week and change left, and given the fact that the Fed has shown no signs of slowing down, it would seem that there’s upside potential remaining in ETH/USD.

By comparison to Bitcoin above, ETH/USD has been range-bound with a consistency of support around the 61.8% retracement of the February sell-off. This plots around 1755 and has already produced a number of support inflections.

This can keep the door open for bullish scenarios, looking for prices to move towards recent range resistance around the 76.4% retracement of that same major move. If bulls do kick the trend back up, then there could be deeper target potential around the March high of 1943 before ‘big picture’ resistance plots in around the 2k psychological level.

ETH/USD FOUR-HOUR PRICE CHART

Ethereum ETHUSD Four Hour Chart

Chart prepared by James StanleyEthereum on Tradingview

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