Ethereum once again tops the monthly price movement. The coin marks 69% hike in a period of 30 days. The future of the currency looks quite great, and the same would benefit the market too. The traders are experiencing a recent pullback pressure due to the selling spree. The same might be over soon and the ETH coin would rise and shine again. The current momentum of the currency is quite positive.
Ethereum Price Analysis
ETH coin price was around $165.90 on January 20. The currency was spotted, marking marginal loss till January 24. The price was at $154 on the same day but after that, the currency began to improve and till January 31, the price was at $183. January month ended at the same level. In the last 11 days of January, the Ethereum exhibited a 10.40% upsurge.
February began with a steady upward movement. From February 01 to 10, the ETH price changed from $183 to $228 by a massive 24.67% hike. With a slight plunge, the coin continued trading upwards, and on February 12, the price touched $274. In the next two days, the price of Ethereum slipped to $263. However, ETH’s price recovered and touched $289 on February 15. The selling pressure took the currency’s momentum and the price slipped to $247. Recently, the coin recovered and now it is trading above $278.
The MACD indicator indicates that the coin may correct down marginally in the upcoming hours as the Signal line overpowers the MACD line. However, as per the overall bullish trend, Ethereum coin may trade upwards and record new highs in the upcoming days. The immediate resistance level at $289 is likely to be breached soon. The intraday trading in ETH coin might bring flourishing results.
Resistance & Support Levels
R1: $289.61, R2: $297.27 and R3: $311.35
S1: $267.87, S2: $253.79 and S3: $246.13
