This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for ETHUSD for 22nd February 2022

Ethereum Meltdown, will ETH Hold above $2.5k?



In an interview with Bloomberg, Vitalik Buterin thinks an extended bear market will rid the market of speculation.


Past Performance of ETH

ETHUSDT prices are trending lower as per the motion set by the February 20 bear candlestick. Technical candlestick arrangement is bearish following the breach below the $3k support level.


Ethereum Technical Analysis

After relieving gains from the tail-end of January and throughout the first half of February, sellers are back in contention, pushing prices back to bear territory. ETHUSDT prices are trending lower in sync with the formation of the February 20 bear candlestick despite fundamental tailwinds that may offer support for buyers in the medium term. Even so, at this pace, a close below $2.5k would confirm the selling pressure of February 20, further pushing ETH towards $2.3k, presenting unloading opportunities for sellers.


What to Expect of ETH

From a top down preview, BTC prices are bottoming up, and the path of least resistance in the short-term is northwards provided prices are above $40k. Fundamental factors like bullish outlooks from global banks and increasing adoption could provide the necessary momentum for a leg up above $46.5k, unwinding losses of February 18.


Resistance level to watch: $2.75k

Support level to watch: $2.5k


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