Ethereum (ETH) Price Analysis (February 12)
• Price of Ethereum is sustaining above the EMAs.
• The crypto continues to trade in the bullish trend zone.
ETH/USD Medium-term Trend: Bullish
• Resistance levels : $260.00, $270.00, $280.00
• Support levels: $150.00, $140.00, $130.00
ETH/USD medium-term outlook continues in a bullish trend market. The large bullish candle as the market opens today breaks $256.40 of the upper resistance area of the range.
The reaction from the bulls moves price of the crypto to $255.23 in the resistance area.
Price at $258.00 is above the two exponential moving averages breaking the resistance line implies the momentum in price is bullish in trend and buyers are in total control of the market.
However, the stochastic oscillator signal at 94% in the overbought region is an indication that the momentum in price of Ethereum may likely encounter a reversal in the future, in the medium-term.
ETH/USD Short-term Trend: Bullish
The crypto is in a bullish trend in it. The EMA 9 acted as strong support for the bullish upward price movement each time price drops around it.
Today’s 4-hourly bullish candle at $237.02 touches the resistance line as the journey up north continues.
Price is initially up at $255.47 above two EMAs’ breaking the resistance line in the upper resistance area, this indicates that the price of the coin is in an upward trend.
The stochastic oscillator signal pointing around level 94% in the overbought region suggests that the momentum in price of Ethereum may change in the short-term.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.