ETH/USD Reclaims $3000 Resistance Level

Ethereum Price Prediction – February 15

According to the daily chart, the Ethereum price breaks above the moving averages as the price hits the daily high at $3150.

ETH/USD Market

Key Levels:

Resistance levels: $3500, $3700, $3900

Support levels: $2500, $2300, $2100

ETH/USD keeps enjoying an increased interest which is helping the coin to cross above the 9-day and 21-day moving averages. However, at the time of writing, Ethereum (ETH) is hovering at $3102 after hitting a high of $3150 today. Meanwhile, the Ethereum price remains the second-largest cryptocurrency by market capitalization, with today’s price surge driving market capitalization to a new height.

Ethereum Price Prediction: Ethereum (ETH) May Spike to the Upside

The Ethereum price is hovering above the $3000 level as it is settling above the 9-day and 21-day moving averages.  However, due to a strong upside movement of the coin, ETH/USD may soon reach the resistance level of $3200. Looking at the daily chart, the $2800 remains to be a key support zone, and if it is broken, the sell-off may be extended towards the support levels of $2500, $2300, and $2100.

Currently, bulls are making effort to push the coin towards the upper boundary of the channel. Therefore, any bearish movement to the south may welcome the bears back into the market, the price could then hit the critical supports at $2500, $2300, and $2100 while the technical indicator Relative Strength Index moves to cross above 60-level.

When compared with Bitcoin, the coin keeps hovering within the channel. The price is beginning to form a bullish trend as it is crossing above the 9-day and 21-day moving averages. However, if the bulls maintain the trends, the price may likely hit the resistance level at 7600 SAT and above.

On the other hand, any retracement towards the lower boundary of the channel could bring the Ethereum price to the nearest support level at 6800 SAT, and this may reach the support level of 6500 SAT and below. Surprisingly, the technical indicator Relative Strength Index (14) moves above 40-level, suggesting more bullish signals in the nearest term.

Looking to buy or trade Ethereum (ETH) now? Invest at eToro!

68% of retail investor accounts lose money when trading CFDs with this provider

Read more: