{"id":55320,"date":"2025-03-28T20:00:50","date_gmt":"2025-03-28T20:00:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=55320"},"modified":"2025-03-28T20:00:50","modified_gmt":"2025-03-28T20:00:50","slug":"ethereum-price-hits-300-week-ma-for-the-second-time-ever-heres-what-happened-in-2022","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=55320","title":{"rendered":"Ethereum Price Hits 300-Week MA For The Second Time Ever, Here\u2019s What Happened In 2022"},"content":{"rendered":"

Ethereum has once again fallen below<\/a> the $2,000 mark, a psychological level it had briefly reclaimed earlier this week. The market-wide correction over the past 24 hours has weighed on Ethereum\u2019s recovery momentum, and the leading altcoin has seen a dip in sentiment<\/a> that could lead to a deeper decline or a sharp mid-term rebound.\u00a0<\/p>\n

Short-term sentiment is cautious, but a new analysis from a well-followed crypto analyst has brought attention to a significant technical event that opens up a bullish perspective<\/a> for the Ethereum price.<\/p>\n

Ethereum Hits 300-Week Moving Average Again: What Happened The Last Time?<\/h2>\n

Taking to social media platform X, crypto analyst CryptoBullet pointed out<\/a> that Ethereum has now touched the 300-week moving average for only the second time in its history. The first instance was in June 2022, during the market-wide crash that saw the Ethereum price plummet to as low as $880 before beginning a long, slow recovery. <\/p>\n

The second occurrence has come this month, March 2025, just as Ethereum continues to extend its struggles in gaining<\/a> a footing above $2,000. With Ethereum touching the 300-week moving average again, we can only look back to see what happened last time to get a perspective of what to expect now.<\/p>\n

In June 2022, Ethereum\u2019s touch of the 300-week moving average marked the beginning of a long-term recovery phase. After the bounce from that level, the Ethereum price surged more than 140% over the next eight weeks, eventually pushing above $2,100 in August 2022 before another correction.<\/p>\n

Mid-Term Rebound In Focus For ETH, But Resistance Ahead<\/h2>\n

CryptoBullet noted the significance of this moving average, framing it as a key historical support zone. The analyst argued that regardless of bearish sentiment in the short term, this kind of macro-level support typically sets the stage for a meaningful bounce.\u00a0<\/p>\n

\u201cEven if you\u2019re a bear, you can\u2019t deny that we hit a very important support level,\u201d he wrote, <\/a>adding that his price target for the coming bounce is between $2,900 and $3,200. Nonetheless, the bounce will depend on how<\/a> the Ethereum price reacts to the level, as a continued downside move would cancel out any bullish momentum.<\/p>\n

For now, Ethereum\u2019s price is trapped under bearish sentiment, and bulls will need to reclaim the $2,000 zone before any sustainable bounce toward the $2,900 and $3,200 range can begin to materialize. Furthermore, the recent price correction in the past 24 hours increases the risks of the Ethereum price closing March below<\/a> the 3M Bollinger bands, which is currently just around $2,000. A close below the 3M Bollinger bands could spell trouble for the leading altcoin.<\/p>\n

However, if CryptoBullet\u2019s analysis proves to be accurate, Ethereum may soon enter a period of stronger price action that plays out over the coming weeks. At the time of writing, Ethereum is trading at $1,907, down by 5.82% in the past 24 hours.<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum has once again fallen below the $2,000 mark, a psychological level it had briefly reclaimed earlier this week. The market-wide correction over the past 24 hours has weighed on Ethereum\u2019s recovery momentum, and the leading altcoin has seen a dip in sentiment that could lead to a deeper decline or a sharp mid-term rebound.\u00a0 […]<\/p>\n","protected":false},"author":0,"featured_media":55321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55320"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55320"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/55321"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}