Ethereum Market OverView and Technical Analysis
- Pankaj Tanwar
- Feb 18, 2019
- 2 min read
Ethereum is up by 10% today, maybe it is because hype building up due to Constantinople 2.0 and date is approaching on February 25 – 27 ? Possibly ETH bottomed when it touched $80 on December 15 and $100 this month.
ETH/USD Long and Medium-term Trend - Bullish
Resistance Levels: $174, $210, $250
Support Levels: $110, $95, $88
From last one week the price of Ethereum had been in a sideways. The price was trying to hold above the $120 from last one week. The 12-day EMA and the 26-day EMA are trending horizontally indicating the sideways trend. It is holding above the EMAs which indicates that price is likely to bullish.
Today on February 17, the ETH price touched the $140. It was the previous support level of December 2018. It was broken by the bears on January 10, 2019 which is now a resistance level. The price is likely to get up if the price holds above the EMAs, and bulls break the resistance levels of $140. The MACD line and the signal line are above the zero line which indicates a buy signal.
ETH/USD Short-term Trend - Bullish
Resistance Levels: $148, $159, $174
Support Levels: $129, $124, $118
On the 1-hour chart, ETH is in a bullish trend zone. The ETH price is traveling above and below the 12-day EMA and the 26-day EMA. Its price is likely to rise if we get more volume above the $135 level. The MACD line and the signal line are above the zero line which indicates a buy signal.
Disclaimer : Please always do your due diligence before investing in any cryptocurrency or project. This is not a financial advice. Chart Source - TradingView
