Ethereum (ETH) Price Analysis (February 17)

• The medium-term outlook remains in an uptrend.
• The bears may have a temporal control but the overall outlook is bullish.

ETH/USD Medium-term Trend: Bullish

• Resistance levels : $255, $265, $275
• Support levels: $110, $100, $80

The coin is in an uptrend in its medium-term outlook. The bears exercise strong pressure at $258.99 in the support area sustains the downward momentum in price of the cryptocurrency as the daily market opens today.

ETHUSD drops to $243.01 with its wick breaking down the resistance line in the support area.

Price is below the EMA 9 and the stochastic oscillator signal pointing down at 72% in the overbought region suggests downward momentum in the cryptocurrency price in the medium-term.

ETH/USD Medium-term Trend: Bullish

The cryptocurrency is in a bullish trend in its short-term outlook. The bullish pressure weakens at $263.14 in the resistance area as bears resume downtrend today.

Today’s 4-hourly candle opens at $258.99 in the support area is on a bearish note.

The cryptocurrency is down at $243.01support area around the resistance line.

Price hovers around the two EMAs above the resistance line an indication of upward momentum in the price of Ethereum.

The stochastic signal pointing down at around level 20% in the oversold region suggests the price may likely encounter a trend reversal in the future 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 ( holds any responsibility for your financial loss.

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