This website uses cookies to ensure you get the best experience on our website

Technical Analysis for ETHUSD for 15th February 2023

Ethereum Expands; Will ETH Bulls Break Above $1.7k?

Past Performance of ETH

Ethereum is lower at spot rates, within a bear breakout formation. The ETH price is below the 20-day moving average and is down 10 percent from this month's highs. Even though buyers are confident, the short-term trend will only change should ETH break above $1.7k.

Ethereum Technical Analysis

ETH is in range. The upside is limited at $1.7k, a critical resistance level. Meanwhile, support is at $1.5k. Though prices increased on February 14, the short-term trend is bearish. Prices are inside the bearish engulfing bar of February 9. Besides, yesterday's pump is with relatively low trading volumes. Therefore, unless ETH breaks above $1.7k, the odds of the coin dropping below $1.5k remain higher. Conservative traders can wait for a break in either direction before committing. Any break below $1.5k may see ETH drop to as low as $1.35k.

What to Expect from ETH

The immediate trend remains bearish despite yesterday's expansion. Resistance is at February highs at $1.7k. Because last week's bear formation still defines prices, the possibility of sharp dumps cannot be discounted.

Resistance level to watch: $1.7k

Support level to watch: $1.5k

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020