Ethereum (ETH) Daily Price Forecast – February 11

ETH/USD Medium-term Trend: Bullish

  • Resistance Levels: $240, $250, $260
  • Support Levels: $100, $90, $80

Last week, the price of Ethereum was in a bearish trend zone. The crypto’s price was fluctuating between the levels of $104 and $114, but the bulls broke the EMAs and the $114 resistance level. The crypto’s price reached a high of $124.88 and commenced a range bound movement. On February 10, the crypto’s price retraced to the support of the 12-day EMA and commenced a bullish movement.

The price reached another high of $128.16 but it is currently retracing. The crypto’s price is likely to rise because it is above the EMAs. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend zone. On February 8, the bulls broke the EMAs and the resistance level to reach the highs of $124.88 and $128.16. The crypto’s price is now ranging above the 12-day EMA.

The ETH price is likely to rise if the price is sustained above the EMAs and the bulls break the $130 price level. Price of Ethereum is trading at $122.87 and it is expected to reach a high of $150. Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

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