The price of Ethereum has been volatile and has fluctuated horizontally over the past few business days. Despite signs of prices recovering above local clearing levels, bulls are still struggling. As it stands, the coin is within a bearish breakout formation and $3,000 is a key psychological round number that needs to be closely monitored. At the upper end, the coin faces strong rejection at $3,300 and $3,700.
At the time of writing, Ethereum is stable. There is also an element of strength. However, this will only appear if there is a strong breakout above the immediate support level. If trading volume increases, it will be advantageous for the bulls. Currently, attendance is still decent, but lower than attendance. Average for March 2024.
| broker | review | regulator | Minimum deposit amount | Website | |
|---|---|---|---|---|---|
| 🥇 |  |
Read reviews | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | 100 dollars | Visit broker >> |
| 🥈 |  |
Read reviews | FMA, Financial Services Agency | $50 | Visit broker >> |
| 🥉 |  |
Read reviews | FSCA, CySEC, DFSA, FSA, CMA | $0 | Visit broker >> |
| Four |  |
Read reviews | SFSA, FSCA, CySec* | 5 dollars | Visit broker >> |
| Five |  |
Read reviews | FCA, CySEC, FSCA, SCB | 100 dollars | Visit broker >> |
| 6 |  |
Read reviews | FCA, FINMA, FSA, ASIC | $0 | Visit broker >> |
| 7 |  |
Read reviews | CySEC, FCA, FSA, FSCA, Labuan FSA | 100 dollars | Visit broker >> |
| 8 |  |
Read reviews | not regulated | 0.001BTC | Visit broker >> |
| 9 |  |
Read reviews | ASIC, CySEC, FSCA, CMA | 100 dollars | Visit broker >> |
| Ten |  |
Read reviews | CySEC, MISA, FSCA | $20 | Visit broker >> |
The following Ethereum news will influence price movements in the coming days.
- Yesterday, ConsenSys fired back at the US SEC, suing the SEC through a Texas court. The company is particularly upset by the SEC's decision to classify ETH as a security, although it is not official. They argue that ETH does not have the properties of a security, adding that the agency has classified ETH in the same category as Bitcoin in the past.
- In other news, the US SEC has accused MetaMask, a non-custodial wallet by ConsenSys, of acting as an unregistered broker-dealer. Still, it should be noted that Metamask does not manage users' funds, but rather serves as an interface to access the Ethereum blockchain.
Ethereum price analysis
ETH/USD From a top-down preview, it's bullish.
However, in recent business days, sellers have been in control. Still, the price remains within a narrow range above $3,000, but below the all-important short-term triggers of $3,300 and the upper limit of $3,700.
Absent a definitive close above these levels, seller control may remain and the price could align with the April 13 bear bar.
Bulls should hold tight in hopes of a sharp push above $3,300 before looking for entry with a target of $3,700.
If not, a dump below $2,800 invalidates this outlook.
