Ethereum Price Prediction: ETH/USD Dives below $3000

Ethereum Price Prediction – February 13

The Ethereum price prediction sees a 1.13% price fall within the few hours of trading as it drops back towards $2500.

ETH/USD Market

Key Levels:

Resistance levels: $3700, $3900, $4100

Support levels: $2200, $2000, $1800

ETH/USD is currently declining, and the second largest crypto trades below the 21-day moving average. The Ethereum price is holding the $2836 support level, but there is a possibility of sideways movement in the nearest term. The coin is currently consolidating near $2800, and it could decline towards the $2600 support as the technical indicator faces the south.

Ethereum Price Prediction: Ethereum (ETH) May See a Further Downside?

If there is an upside break above $3000, the Ethereum price could revisit the resistance level of $3500. Any further gains might push the price towards the $3700, $3600, and $4100 resistance levels. On the downside, the $2600 level is the nearest support. If there are more downsides, the price could test the critical support levels of $2200, $2000, and $1800, where the bulls are likely to take a stand.

In the meantime, ETH/USD is yet to show some positive signs at the time of writing, but it could dip further in the short term. Having said that, the Ethereum price may likely bounce back above the 9-day moving average, as long as there is no daily close below the 21-day moving average. However, the Relative Strength Index (14) is heading towards 45-level, indicating a bearish movement.

Against Bitcoin, the Ethereum price is now trading below the 9-day and 21-day moving averages within the descending channel as the bears are dominating the market. ETH/BTC is currently trading at 6839 SAT, and the bulls couldn’t push the price to the north. Looking at the chart, if the price continues to drop, the next key supports may likely be at 6200 SAT and below.

However, any possible bullish movement could push the market above the 9-day and 21-day moving averages within the channel, a break above the upper boundary of the channel may enable Ethereum price to reach the resistance level of 7500 and above but the Relative Strength Index (14) is likely to cross below 40-level, which shows that the market might experience more downtrends.

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