Ethereum Price Prediction – February 23
The Ethereum price prediction could spike a significant surge if the price breaks above the moving averages.
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Resistance levels: $3300, $3500, $3700
Support levels: $2000, $1800, $1600
ETH/USD is creating a new bullish movement after touching the daily low of $2599 to breaches above $2500 as the coin currently trades at $2650 preparing to cross above the 9-day moving average. However, while bears are attempting to bring the price back below the daily high of $2756, the bulls may try to collect more on the price dips.
Ethereum Price Prediction: Ethereum (ETH) Could Trigger Fresh Rally
Looking at the daily chart, the Ethereum price can only increase the bullish movement if the $2500 support is maintained at all costs. Currently, the technical indicator Relative Strength Index (14) is likely to cross above 40-level by sending bullish signals into the market which can encourage more buyers to enter the market.
Meanwhile, since the red-line of the 9-day moving average stays below the green-line of the 21-day moving average, the Ethereum (ETH) may stay within the negative side and the market price may reach the support levels at $2000, $1800, and $1600 respectively. On the contrary, if the technical indicator decides to make a quick cross above the moving averages, then, there may be a quick bullish rise which may likely push the market up to cross above the upper boundary of the channel to hit the resistance levels of $3300, $3500, and $3700 respectively.
Again Bitcoin, the Ethereum price is still hovering below the 9-day and 21-day moving averages as the coin prepares to cross above the 9-day and 21-day moving averages. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving towards 50-level. However, for the fact that the market remains at the downside, the coin is likely to move sideways before deciding on the next direction.
Moreover, the daily chart reveals that the potential resistance level is located at 7600 SAT and above, but any bearish movement may likely cancel the bullish pattern and attract new sellers to come into the market with the next focus on the support level at 6300 SAT and below.
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