On March 18, the bulls attempted to push the trading price of ETH over the $1,800 mark and they were able to make it happen.
Bulls Failed to Sustain $1,800
They continued pushing the price of ETH higher on a particular day and soon, the price of the asset was higher than the $1.8k mark.
Just when the price of the asset was pushed higher, it was time for the bulls to sustain the pressure coming in from the bearish side.
However, the bears implemented stronger pressure and they were able to pull the trading price of ETH below a particular level.
The bulls made the same attempt on the following day to push the asset’s price higher. They were able to push ETH’s price over the $1.8k mark again on March 19 but things did not work out.
Once again, the bears increased their selling pressure, which managed to pull the trading price of ETH below the $1.8k mark.
Bears Are Stalling the Recovery
The back-and-forth movement of ETH shows that the bears are not letting the bulls do as they, please. They continued increasing their selling power in order to stall the recovery.
This is the reason why the trading price of ETH kept falling below the $1.8k mark despite several attempts made by the bulls.
Bulls to Push ETH’s Price Higher
The bulls are eager to make a difference with their buying power, which is why they are making repeated attempts to push it over the high resistance level.
As of yet, the buying rallies of the bulls have been countered by the bears. They have continued pulling the asset’s price lower. As of now, ETH is hovering between the range of $1,743 and $1,680.
These are the strong support zones for the asset but the investors are eager to push ETH’s price higher. Even the 20-day EMA is moving in the upward direction while it is at $1,654.
The RSI for the asset is also moving in the upward direction and as of now, it is over 61. It seems that the asset is currently hovering closer to the least resistance zone but it may soon start climbing.
ETH to Surge to $2,200
Given the current sentiments and the energy the bulls have, they may attempt another strong rally. This time, their goal would be to push the asset over the $1,800 mark and take it up to $1,850.
As the asset manages to make it higher than that level, their next goal would be to push ETH over the $2,000 mark. If the momentum builds up, the bulls will try to push ETH to a high of $2,200.