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Ethereum price is moving lower below $1,600 against the US Dollar. ETH must stay above the $1,500 support zone to start a recovery wave.

Ethereum price failed to clear the $1,580 and $1,600 resistance levels. ETH formed a high near $1,565 and recently started a fresh decline. There was a move below the $1,545 support zone.

The price traded as low as $1,525 and the bulls were active above the $1,500 level. It is now consolidating losses below $1,560 and the 100 hourly simple moving average. Ether price corrected a few points above the $1,540 resistance zone.

It cleared the 23.6% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. On the upside, the price is facing resistance near the $1,550 zone. There is also a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH/USD.

The first major resistance is near the $1,560 zone. It is near the 76.4% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low.

Source: ETHUSD on TradingView.com

The next major resistance is near the $1,575 level, above which the price might start a decent increase. The next major resistance is near the $1,600 zone. A close above the $1,600 resistance zone might start a major upward move. In this case, the price may perhaps rise towards the $1,650 level.

If ethereum fails to clear the $1,560 resistance, it could start another decline. An initial support on the downside is near the $1,525 level.

The next major support is near the $1,500 zone. If there is a break below $1,500, the price might drop towards $1,435. Any more losses might call for a test of the $1,400 level.

Technical Indicators

Hourly MACD The MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSI The RSI for ETH/USD is now below the 50 level.

Major Support Level $1,500

Major Resistance Level $1,560

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Ethereum Price is Plunging, But Its Too Early to Say Bulls Have Given Up - NewsBTC

After the widely publicized collapse of the Silicon Valley Bank (SVB), accompanied by two other major banking institutions crashing and more at risk, investors seem to be increasingly flocking to the alternative solution cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

As evident from the declining portion of Bitcoin and Ethereum reserves on crypto exchanges, investors are seeking refuge in these digital assets out of fear that the banking crisis could spread to crypto businesses, as noted by blockchain and financial analysis platform Glassnode in a weekly newsletter sent out on March 13.

Specifically, the report stated that around 0.144% of all BTC and 0.325% of all ETH in circulation was withdrawn from exchange reserves, demonstrating a similar self-custody response pattern to the collapse of the crypto trading platform FTX.

On top of that, the platforms team stressed that these numbers spoke volumes about the growing level of investor confidence in crypto in recent weeks:

On a USD basis, the last month saw over $1.8B in combined BTC and ETH value flow out of exchanges. This is not necessarily large in relative scale. However, observing net exchange withdrawals, especially within the current hostile regulatory environment, does speak to a degree of investor confidence that is worth noting.

Meanwhile, Bitcoin has put some breaks on its recent progress, gaining only 0.17% on the day and at press time trading at the price of $24,674, as it began to consolidate the weekly increases of 13.64% and of 13.14% on its monthly chart.

At the same time, Ethereum has lost 1.17% in the last 24 hours, trading at the price of $1,672, but still up 8.97% compared to the previous seven days and 11.02% across the last month, as per the latest information retrieved on March 16.

Whether crypto manages to retain investors interest remains to be seen and will largely depend on the developing situation in the banking sector, in addition to the developments directly related to the cryptocurrency market and the wider macroeconomic landscape.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Banking contagion sparks crypto frenzy: investors rush to 'HODL ... - Finbold - Finance in Bold

March 17, 2023 11:35 AM | 1 min read

Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices trading belaboveow the key $26,000 level on Friday.

Ethereum (CRYPTO: ETH) also moved higher, trading above the $1,700 mark this morning.

The University of Michigan consumer sentiment fell to 63.4 in March from 67 in the previous month.

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Immutable (CRYPTO: IMX) was the top gainer over the prior 24 hours, while Kava (CRYPTO: KAVA) turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $1.13 trillion, recording a 24-hour gain of 4.2%. BTC was trading higher by 6% at $26,374, while ETH rose by around 3.2% to $1,714 on Friday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Price: $1.4024-hour gain: 18.1%

Price: $1.0524-hour gain: 14.6%

Price: $0.328424-hour gain: 13.6%

Price: $0.226824-hour gain: 11.1%

Price: $0.446124-hour gain: 9.6%

Price: $0.99524-hour drop: 2.6%

Price: $0.151524-hour drop: 2.1%

Price: $711.6124-hour drop: 2.1%

Price: $4.1824-hour drop: 1.9%

Price: $2.3924-hour drop: 1.9%

Read This Next: Allbirds And 3 Other Stocks Under $2 Insiders Are Aggressively Buying

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Ethereum Rises Above This Key Level; Immutable Emerges As Top Gainer - Benzinga

March 17, 2023 12:28 PM | 1 min read

MicroStrategy Inc (NASDAQ:MSTR) shares are trading higher by some 7.54% to $259.26 during Friday's session.Shares of crypto-related stocks are trading higher amid recent, marked strength in cryptocurrencies.

For the unitiated, MSTR is a provider of enterprise analytics and mobility software.

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

As part of the company's broader financial strategy,MicroStrategy owns roughly132,500 bitcoins as of FY22. Because of this, thestock often moves in sympathy with the price of Bitcoin and the crypto sector.

See Also:Why PacWest Bancorp (PACW) And Western Alliance (WAL) Stock Are Nosediving

According to data fromBenzinga Pro,MicroStrategy has a 52-week high of $522.80 and a 52-week low of $132.56.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Seeing Blue Skies - MicroStrategy (NASDAQ:MSTR) - Benzinga

Bitcoin and Ethereum are two of the most well-known cryptocurrencies in the world. Although both are decentralized digital currencies, they have significant differences in their underlying technology and functionality. Which one is better to hold, Bitcoin or Ethereum? Lets get into a quick analysis of Bitcoin and Ethereum.

Bitcoin was the first cryptocurrency to be created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was designed to be a decentralized, peer-to-peer digital currency that could be used as an alternative to traditional fiat currencies. Bitcoin operates on a blockchain, a distributed ledger that records every transaction on the network. The blockchain is maintained by a network of nodes, which work together to verify transactions and prevent fraud.

On the other hand, Ethereum was created in 2015 by a programmer named Vitalik Buterin. Ethereum is not just a digital currency, but also a blockchain platform that enables developers to create decentralized applications (dApps) and smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Ethereums blockchain uses a cryptocurrency called Ether as its native token.

The primary difference between Bitcoin and Ethereum lies in their underlying technology and functionality. While Bitcoin is primarily used as a store of value or a means of exchange, Ethereums blockchain allows for the creation of decentralized applications and smart contracts. Ethereum is designed to be more flexible and scalable than Bitcoin, with a focus on providing a platform for developers to build upon.

In terms of market capitalization, Bitcoin is currently the largest cryptocurrency, with a market cap of over $1 trillion. Ethereum is the second-largest cryptocurrency, with a market cap of over $200 billion. Bitcoins price is largely driven by demand as an alternative store of value and investment asset, while Ethereums price is more influenced by the adoption of its platform for decentralized applications and smart contracts.

As for which cryptocurrency is projected to become better in the future, its difficult to say for certain. Both Bitcoin and Ethereum have their strengths and weaknesses, and their success largely depends on their adoption and use cases. However, many experts believe that Ethereums platform for decentralized applications and smart contracts has significant potential for disrupting industries and transforming the way we interact with technology. As such, Ethereum may have a more significant impact on the future of blockchain technology and decentralized applications.

While Bitcoin and Ethereum are both decentralized digital currencies, they have significant differences in their underlying technology and functionality. Bitcoin is primarily used as a store of value or a means of exchange, while Ethereums blockchain allows for the creation of decentralized applications and smart contracts. While both cryptocurrencies have their strengths and weaknesses, many experts believe that Ethereum has significant potential for disrupting industries and transforming the way we interact with technology.

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Bitcoin vs Ethereum Which is BETTER to hold for the Long Term? - CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto News