@BOMBERuss 17 March 2022 more from that month

The #Ethereum price is on its way to recovering last week's losses, but on its way it faces numerous tough resistance barriers. However, most likely, #ETH bulls will quickly exhaust their strength and will not support the upward momentum. On March 6, the Ethereum price broke through the base of the symmetrical triangle, but the bears could not take advantage of it. The weekly support level at $ 2541 is one of the main reasons why the bears lost on ETH, and the motive for the return of the bulls. After rising by about 12%, the Ethereum price is currently testing the 50-day simple moving average (SMA) at $2771. A decisive turn of this obstacle will put ETH on the path leading to the weekly supply zone, located from $2927 to $3413. The last three times ETH has flagged this hurdle, it has faced a huge surge of pressure from sellers, which led to an immediate pullback. In this regard, investors should exercise caution, since the smart contract token is returning to this area. Moreover, there is also a 100-day #SMA at $Z155 in this supply zone, which makes the rise exceptionally difficult for bulls. Thus, the conservative approach is to assume that the growth potential of the Ethereum price is limited to $1,000. In a very optimistic case, there is a possibility that the price of Ethereum can overcome all these obstacles and break through to the 200-day SMA at $3522. This step will increase the total profit to 31% from the current position of $ 2762. On the other hand, if the Ethereum price fails to rise higher, we can expect a candle below the support level of $2,541. This will invalidate the bullish thesis and open the way for a decline and retesting of the $1927 barrier. #CryptoCurrency