Weekly Technical Analysis of Ethereum Price March 16

Ethereum has been successful in defending support for $ 134. The digital currency is now struggling to break the $ 144 resistance. Both moving average lines are flat and the RSI index is located near the center. All of this reflects the balance between buyers and sellers.

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Ethereum has been successful in defending support for $ 134. The digital currency is now struggling to break the $ 144 resistance. Both moving average lines are flat and the RSI index is located near the center. All of this reflects the balance between buyers and sellers.

If the Ether can make a quick leap and pass the resistance of $ 144, its next resistance will close at $ 167. The resistance of $ 167 is powerful, and in the event of a break, we can expect to complete the uptrend triangle pattern and target $ 251.

On the other hand, if the Ethereum reaches the 50-day moving average (MA), the uptrend will weaken. The critical support for the ether is at $ 116. Since the uptrend line of the uptrend pattern is also at the same level, we expect to maintain $ 116 support. However, traders can consider a $ 125 price stop loss, or an emergency sale.