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Ethereum (ETH/USD) forecast and analysis on February 14, 2020

Cryptocurrency Ethereum (ETH/USD) is trading at 270. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.

Ethereum (ETH/USD) forecast and analysis on February 14, 2020

As part of the Ethereum exchange rate forecast, a test of level 258 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 310. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at 200.

Ethereum (ETH/USD) forecast and analysis on February 14, 2020

Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of ​​195. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on February 14, 2020 implies a test level of 258. Further growth is expected to continue to the area above level 310. The conservative buying area is located near area 200. The breakdown of the growth option for cryptocurrency will be a breakdown of level 195. In this case, we should expect further fall.

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Ethereum

EthereumPrice: ETH/USD looks forward to this head-and-shoulders pattern

  • Ethereum price finds support at $210 temporarily stopping losses towards $200.
  • A possible head-and-shoulders pattern could place ETH/USD back in the path towards $300.

Ethereum bears continue to punch holes in the bullish ‘balloon’ even as the storm gets more violet. Almost half of the gains accrued since the beginning of January have been trimmed. Ethereum price is exchanging hands at $216 after a minor recovery from $210 (weekly low). The second-largest crypto is down 3.318% on the day. The Asian session on Thursday has been characterized by increased selling activities and high volatility levels.

Ethereum price technical update

ETH/USD is trading at $216 at the time of writing. Support has been established at $210 to help shield the crypto from further losses towards $210. However, in the event the short term support gives in, Ethereum price is likely to find support at the confluence formed by the 50% Fibonacci retracement level taken between the last drop from $288 to $116 around $200 and the 50-day SMA.

Possibility of a head-and-shoulders pattern reversal

If Ethereum price continues to take a breather above $210, there is a chance that a head-and-shoulders pattern will complete its formation. A bullish reversal from the head and shoulders pattern is likely to send ETH/USD in a trajectory eyeing $300 once again.

Meanwhile, the downward momentum continues to carry more weight, especially with the RSI almost sinking into the oversold region. The momentum indicator also shows that ETH/USD downside is likely to last longer through the coming sessions.

ETH/USD daily chart

ETH/USD price chart

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Ethereum

Ethereum Price Analysis: ETH/USD 1-Hour chart recovery halts at key Fibonacci level

  • Ethereum has bounced back on Thursday after a few tough sessions.
  • The price has just met some intraday resistance at the 38.2% Fibonacci level.

ETH/USD 1-Hour Chart

Ethereum fell around 27% from the high seen on February 18th.

Now there have been some signs of a small recovery but more data is needed.

Today the price has moved 4.5% higher but stopped short on the 38.2% Fibonacci level (240.00).

For the downtrend to continue a close below 215.00 would be needed.

On the upside, the next resistance is at 250.00 and on the chart below you can see it had been used many times.

Ethereum

Additional Levels

ETH/USD

OVERVIEW
Today last price236.12
Today Daily Change12.33
Today Daily Change %5.51
Today daily open223.79
TRENDS
Daily SMA20254.37
Daily SMA50203.12
Daily SMA100172.59
Daily SMA200179.13
LEVELS
Previous Daily High250.25
Previous Daily Low217.59
Previous Weekly High287.04
Previous Weekly Low237.24
Previous Monthly High186.73
Previous Monthly Low125.81
Daily Fibonacci 38.2%230.06
Daily Fibonacci 61.8%237.77
Daily Pivot Point S1210.84
Daily Pivot Point S2197.88
Daily Pivot Point S3178.18
Daily Pivot Point R1243.49
Daily Pivot Point R2263.2
Daily Pivot Point R3276.15

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Ethereum Price Analysis: ETH/USD at risk of free fall with $200 the next major daily support

  • Ethereum price is trading in the green by 3.30% in the session on Thursday. 
  • ETH/USD next major target to the downside is eyed at the psychological $200.
  • The price is undergoing its worst run of losses since November 2019. 

ETH/USD daily chart

The price is attempting to stage a rebound following three consecutive heavy sessions of losses in the red, another potentially eyed. 

ETH/USD 60-minute chart

Near-term consolidation within a bearish flag is subject to a breakout south, which would invite a fresh strong wave of downside pressure. 

Spot rate:                     230.78

Relative change:          +3.30%

High:                             232.19

Low:                              210.57

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