Cryptocurrency Ether (ETH) has enjoyed a 7% rise in the past three days, reaching $3,300 on March 28 amid a broader shift in cryptocurrency markets and investor enthusiasm ahead of the “consolidation.” Previously, the altcoin failed to maintain the $3,000 level it reached at the beginning of March as bearish sentiment prevailed.
ETH currency traders rely on many technical indicators and analyzes to know future price expectations. While tracking all indicators is necessary to evaluate an accurate price prediction that matches the market trend, this does not prevent the existence of basic and more valuable indicators. Knowing Ethereum's support and resistance levels gives traders a clear view of the supply and demand situation and even helps them identify reversals in trends.
In addition, chart patterns are widely used by traders to form trend lines that help in predicting the next candlestick movement.
Various indicators such as RSI, moving averages and MACD can be used to determine the direction of the long-term trend and try to predict future price movement.
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