Ethereum Expects A Price Surge In March – How High Can ETH Go?

There are all kinds of optimistic predictions about the price of Ethereum and other important coins these days, despite the market corrections.

Now it’s been revealed that an important crypto analyst is expecting to see ETH surge in price during March.

According to the latest reports, the crypto strategist Justin Bennett believes leading smart contract platform Ethereum (ETH) is gearing up for a breakout this month.

In a new strategy session, he explained the fact that Ethereum is facing a diagonal resistance that has kept the market in a downtrend for about four months.

“We have a trendline that extends from the November high. Ever since this time, Ethereum has carved lower highs. It has not been able to carve a higher high ever since late last year.”

It’s also important to note the fact that Ethereum continues to respect its diagonal resistance, Bennett says that ETH is being supported by an uptrend line that extends all the way back to 2020.

“At first glance, it looks like this lower level extends from this low back here in January… However, if you go back, this level actually extends back to 2020…”

He also explained that this level extends from the February 2020 high right before the March Covid sell-off.

“You can see that it was once resistance in August [2020] and then right here before the breakout [November 2020].”

He also said that during all 2020, during the last portion of the bear market for Ethereum, this was the level of resistance. He said that this year, in 2022, this level is serving as the level of support.

At the moment of writing this article, ETH is trading in the red and the coin is priced at $2,529.

Stay tuned for more news and make sure to keep your eyes on the market.