Ethereum Price Analysis Feb.22: ETH Consolidates Following Breaking Above $150

Ethereum has just lately damaged above the $150 mark following a 21% weekly value. The market has reached resistance at $152, however the sentiment is slowly turning bullish.

Looking on the ETH 1-Day & 4-hour Charts

  • Following our previous analysis, we will see that Ethereum had continued to interrupt above the resistance at $142.63 and proceeded above the talked about $150, whereas now going through the resistance stage of $152.15, ETH has struggled to interrupt above this resistance stage for the previous 5
  • An thrilling improvement on the 4-hour chart is the symmetrical triangle shaped just lately; there’s nonetheless a bit for consolidation earlier than a breakout.
  • From above: If the bulls break above resistance at $152.15, additional resistance lies at $160, $165.23, and on the long-term bearish .618 Fibonacci Retracement at $170.70 (marked in blue), breaking above the final will more likely to see value motion re-testing the medium time period 1.272 Fibonacci Extension stage at $185.14 (marked in yellow), the September 2017 low at $197.73 – $200 space.
  • From under: The nearest assist lies on the bearish .618 ($142.63) and .5 ($135) Fibonacci Retracement ranges (marked in crimson). Further assist under lies at $127, $110 and $100.
  • The RSI is in overbought zone indicating that the bulls may have a break quickly for a correction.
  • The buying and selling quantity has remained secure and rising over the current week.

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Looking on the ETH/BTC 1-Day Chart:

  • ETH/BTC has been buying and selling sideways since our earlier evaluation. We can see that the market had discovered resistance on the 0.038 BTC stage, and has not but been capable of break as of now.
  • The market is at the moment buying and selling close to assist on the bearish .618 Fibonacci Retracement stage at 0.036969 BTC (marked in crimson).
  • From Below: The nearest assist lies on the brief time period .236 Fibonacci Retracement stage at 0.03628 BTC (marked in inexperienced). Further assist under lies at 0.035 BTC, 0.033 BTC, and03158 BTC.
  • From Above: If the bulls break above 0.038 BTC, then the subsequent resistance lies on the bearish .786 (0.03890 BTC) and .886 (0.040 BTC) Fibonacci Retracement ranges (marked in crimson).
  • Higher resistance above 0.040 BTC lies at 0.041 BTC and 0.04178 BTC.
  • The RSI stays above 50 has bulls retain management. However, it’s slowly grinding decrease.
  • The buying and selling quantity has elevated over the previous week.

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The put up Ethereum Price Analysis Feb.22: ETH Consolidates Following Breaking Above $150 appeared first on CryptoPotato.

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