In today’s Ethereum price analysis, the coin has started correcting lower from the $230 swing high and it remains at a risk of further losses below $215.
Ethereum Price Medium-term Trend
Yesterday February 10, the price of Ethereum (ETH) was trading in a bullish trend zone. After testing the $200 and $210 resistance level, the bulls pushed Ethereum price above the key $220 resistance level to move into a bullish zone.
Recently, there was a successful break above the $225 resistance level. A new 2020 high was formed near the $230 level and the price is currently correcting downward.
At the time of writing this Ethereum price analysis, the coin is changing hands at the $222 level.
Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.
ETHUSD Price Short-term Trend
On the 1-hour chart, the price of ETHUSD is currently consolidating in a range. In the short term, there could be a downside correction below $215, but the price is likely to find support near $205.
Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
- Resistance levels: $225, $230, $250
- Support levels: $220, $215, $200
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.