Ethereum (ETH) Daily Price Forecast – February 20

ETH/USD Medium-term Trend: Bullish

·         Resistance Levels: $240, $250, $260

·         Support Levels: $140, $130, $120

Yesterday, February 19, the price of Ethereum was in a bullish trend. The crypto’s price was trading at $151.68 when the crypto was resisted. The crypto was resisted at the $150 price level and the price fell to the support of the 12-day EMA. The bullish trend has been terminated but the ETH price is trading at  $145.76 as at the time of writing.

On the upside, the crypto’s price will rise if crypto’s price is sustained above the EMAs while the bulls break the $150 price level. Meanwhile, the MACD line and the signal line 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. The previous bullish trend has been terminated as price made a downward fall. The ETH price has fallen to the support of the $140 price level and the bulls are expected to defend the support level.

On the downside, if the bears break the $140 price level, the crypto will further depreciate.

Meanwhile, the MACD line and the signal are above the zero line which indicates a buy signal. Also, the crypto’s price is below the EMAs which indicate that price is likely to fall.

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

                                                                                                               

Source: www.bitcoinexchangeguide.com