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Ethereum (ETH) Daily Price Forecast – February 11

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ETH/USD Medium-term Trend: Bullish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $100, $90, $80

Last week, the price of Ethereum was in a bearish trend zone. The crypto’s price was fluctuating between the levels of $104 and $114, but the bulls broke the EMAs and the $114 resistance level. The crypto’s price reached a high of $124.88 and commenced a range bound movement. On February 10, the crypto’s price retraced to the support of the 12-day EMA and commenced a bullish movement.

The price reached another high of $128.16 but it is currently retracing. The crypto’s price is likely to rise because it is above the EMAs. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend zone. On February 8, the bulls broke the EMAs and the resistance level to reach the highs of $124.88 and $128.16. The crypto’s price is now ranging above the 12-day EMA.

The ETH price is likely to rise if the price is sustained above the EMAs and the bulls break the $130 price level. Price of Ethereum is trading at $122.87 and it is expected to reach a high of $150. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

Source.bitcoinexchangeguide

Ethereum

Ethereum technical analysis: Bears step in to negate bullish movement

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  • ETH/USD is currently trading for $210.15.
  • Relative strength index (RSI) is creeping right next to the oversold zone.

ETH/USD  daily chart

ETH/USD is currently trading for $210.15 in the early hours of Thursday. This Wednesday was bullish for ETH/USD as its price went up from $200 to $211.The price is trending above the 200-day simple moving average (SMA 200) while below the SMA 50 and SMA 20 curves. The SMA 50 is looking to cross over the SMA 20, which is a bearish sign. The relative strength index (RSI) is creeping right next to the oversold zone.

ETH/USD 4-hour chart

The 4-hour chart shows a spike in the ETH/USD value where it went up from $196.15 to $213. Since then, the bears took over and the price is trending in a downward channel. The price chart is trending below the green Ichimoku cloud. The moving average convergence/divergence (MACD) indicator shows four straight bullish sessions of increasing intensity.

ETH/USD hourly chart

The hourly ETH/USD price is trending in the upper half of the 20-day Bollinger band having found support on the upward trending line and the SMA 20 curve. The market sees immediate resistance at the SMA 50 curve. The Elliot oscillator shows four straight bearish sessions.

Key Levels

ETH/USD

OVERVIEW
Today last price212.98
Today Daily Change1.66
Today Daily Change %0.79
Today daily open211.32
TRENDS
Daily SMA20277.84
Daily SMA50273.08
Daily SMA100233.63
Daily SMA200183.29
LEVELS
Previous Daily High220.02
Previous Daily Low192.1
Previous Weekly High318.46
Previous Weekly Low262
Previous Monthly High363.54
Previous Monthly Low226.48
Daily Fibonacci 38.2%209.35
Daily Fibonacci 61.8%202.76
Daily Pivot Point S1195.6
Daily Pivot Point S2179.89
Daily Pivot Point S3167.68
Daily Pivot Point R1223.52
Daily Pivot Point R2235.73
Daily Pivot Point R3251.45

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Ethereum

Ethereum Price Prediction Today: Daily (ETH) Value Forecast – July 17

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  • On the upside, if the $200 support level holds, the crypto’s price will rise and break above the EMAs and retest the $320 and $340 resistance levels.
  • On the other hand, if the $200 support level is broken the crypto’s price will fall to the low of $150 or $175 price level.

ETH/USD Medium-term Trend: Bearish

  • Resistance Levels: $280, $300, $280
  • Support Levels: $200, $180, $160

Yesterday, July 16, the price of  ETH  was in a bearish trend. The bears temporarily suspended the bearish move as the bulls took control of price at the $200 support level. On the upside, if the $200 support level holds, the crypto’s price will rise and break above the EMAs and retest the $320 and $340 resistance levels.

The MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Ethereum is in a bullish trend. On July 16, the ETH price fell to the low of $196 and commenced a range bound move below the EMAs. The bulls broke above the EMAs and resumed a bullish trend. The ETH price is making a series of higher highs and higher lows.

A trend line has been drawn to determine the duration of the bullish trend. A bullish trend is ongoing if the trend line is unbroken. A bullish trend is said to be terminated if price breaks the trend line and another candlestick closes on the opposite of it. The MACD line and the signal line are above the zero line which indicates a buy signal.

Ethereum’s price is $211.52 ETH/USD exchange rate today. The real-time ETH market cap of $22.62 Billion currently ranks #2 with , daily trading volume of $3.19 Billion and live coin value change of ETH 4.32% in the last 24 hours.

Source:bitcoinexchangeguide

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Ethereum (ETH) in Free Fall, Down 34% Following Bitcoin Cash Idea

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  • Ethereum (ETH) slides 34 percent as bears step up
  • Bitcoin Cash may be used to temporarily solve Ethereum’s scalability problems

Vitalik has an audacious plan of integrating Ethereum with Bitcoin Cash before ETH 2.0 full activation. However, there is resistance from some quarters with a majority against his idea. In the meantime, bears are in full throttle as ETH slumps 34 percent from last week’s close.

Ethereum Price Analysis

Fundamentals

Regardless of how Ethereum supporters try to scrutinize the platform’s performance, everything will boil down to scalability. Striking a perfect balance and ticking all the boxes satisfying the requirements of the blockchain trilemma is hard.

Therefore, while the developer community agitates for scalable networks, it all about making good choices. Presently, Vitalik and team chose decentralization and security over scalability. Limiting as it is, that is not stopping project managers from flocking and launching dApp from the platform. And Joseph Lubin, in an interview, said the network, despite challenges, has to some extent scaled:

“So, I think we’re at many tens of thousands of decentralized transactions per second on the Ethereum network right now. And another point that I believe is that we’ve got all this scalability for specific use cases.”

Therefore, the idea that Vitalik is putting forth is off-putting for Ethereum developers. While it could work considering Bitcoin Cash recent hard forks and their working towards inherently scaling the network without layer two options like in Bitcoin, his choice didn’t bode well with developers. Francis Pouliot saidVitalik’s proposal is an admission of failure:

“The shitcoin has hit a three-year low versus Bitcoin. The founder has all but declared the project a failure today by proposing a humiliating BCash integration to delay the (yet unsolved) scalability crisis.”

Candlestick Arrangements

Ethereum ETH

Presently, the cryptocurrency scene is all red. Leading the plunge are periphery altcoins. Compared, ETH performance, considering its liquidity, is worse. Printing double-digit losses in the last week, bears are firmly in charge.

Note that despite the optimism, the fact that prices are now trading below the $230 support and sell trigger is a mark of bears. As such, and in line with previous ETH/USD trade plans, every pullback towards $230, which is previous support now resistance, is an opportunity to unload the coin at higher prices.

Ideally, and in a typical move, better reloading opportunities will be at $190 and $150 if sellers’ momentum is high.

Technical Indicators

Anchoring this trade plan is May 16 bull candlestick. With high trading volumes of 822k, the bar is visible and leading. Therefore, signaling the end of a retest will be a wide-ranging bull candlestick reacting either at $170-$190 support zone or $150 which is April low, distinct with high participation preferably exceeding 822k of May 16.

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