Ethereum Price Analysis: Will The Comeback Of ETH Bulls Last Longer?

- Advertisement -
  • Ethereum finally turned green after two days of downtrend which brought it to the support level of $250.00.
  • The Technical indicators suggest that there is a strong upcoming buying phase for the second-largest cryptocurrency in the world.

Annotation 2020-02-19 121807

Source: coinmarketcap

- Advertisement -

The pricing graph reflects on the significant positive momentum that ETH bulls built in this month which was followed by a downtrend of two days. But that didn’t impact ETH bulls much and had a comeback in today’s market. Ethereum gained around 5.25% with the current price of $263.40. The market capitalization is of $28,900,592,081 with the 24H vol traded of $8,898,252,528.

Annotation 2020-02-19 121831

Source: Tradingview

- Advertisement -

According to technical indicators, RSI is on the level of 50 which is a neutral situation and indicates that the crypto assets have the tendency to move both ways. However, CCI has made a comeback from the oversold territory which is a positive sign for ETH bulls.

The volume traded for Eth is also increasing which can be considered as another positive sign. Overall, Ethereum has the potential to build a long term positive momentum from here by breaking $300.00.

Major resistance levels: $340 and $370

Major support levels: $250 and $275

- Advertisement -

Annotation 2020-02-19 121850

The technical oscillators also suggest that traders can put their money on this crypto assets if they are looking for a long term investment (more than 1 month). Even, according to known traders and analysts, Ethereum can it’s an all-time high of $1400 by the end of this year.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners