Ethereum Price Technical Analysis 22.03.2023

Traders are watching Ethereum closely, with the key level of 1714 now a support zone. If the price stays above this level. The interest rate decision tonight could influence the price. Traders are advised to monitor the chart and news closely, as the next few days could be critical for Ethereum’s direction.

With the upcoming launch of Arbitrum ($ARB), a scaling solution Layer-2 Network, eyes have turned to Ethereum. After making a daily close above the important level of $1714, Ethereum has turned this area into a support zone.

I believe that as long as the price remains above this level, we may see a rise towards the level of $2180.

-Crypto Melih

The first area the price will target is the open liquidity zone I have marked on the left side of the chart.

In case of a possible pullback, the first support zone is at 1714 level. However, with the interest rate decision to be announced tonight, the price may dip below this level and test the lower support zone at 1690-1674 to fill the price gap in this area.

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