Ethereum $ETH Price Outlook Feb09: Neutral to Bullish

Ethereum has gained 13.42% or 13.98 USDT in twenty-four hours. In this Saturday Edition find $ETH price action, trend, technicals and more. Or jump right to the Ethereum $ETH Price Outlook.

Price Action

The price of $ETH has risen over twenty-four hours. The last price at press time is 118.12 USDT. In Binance moderate to heavy volume trading the daily change is 13.42%, or 13.98 USDT:

$ETH Price Change
period	%	USDT
24 hours	13.42	13.98
7 days	10.69	11.41
1 month	30.68	27.73

Trend

Real Time Market Depth

The real time market depth is neutral.

Remarks

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is strongly bullish. The price is easing from an intraday high of $123.00, and the last eight 4 hour sessions are bullish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period	average
7 day	113.99
25 day	108.93
99 day	110.30

Ether began the day with the short term EMA(7) well below both the medium(25) and long(99) term EMA. Since then it has quickly ascended above both, on strong volume. The angle of divergence is currently up – and strongly bullish.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the chart is 76.2. This is an overbought state.

An overbought state is not an optimum entry point.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is 7.43%. This may exert a bullish influence on Ethereum today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

Ethereum $ETH Price Outlook

• the Ethereum $ETH price outlook is neutral to bullish
• if the price finds acceptance at higher levels the major resistance prints at $123
• if the price finds acceptance at lower levels the major support prints at $101.21

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis time period.

Independent Comparison

Thanks for reading 🙂

Image(s): Shutterstock.com