CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$21,117.00
  • ethereum
    ETH$1,628.83
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Ethereum Price Analysis: ETH Tumbles At $230 But Remains Largely Bullish

    Ethereum Price Analysis: ETH Tumbles At $230 But Remains Largely Bullish

    Author: Yaz Sheikh

    Last Updated Feb 10, 2020 @ 08:09
    • Ethereum dropped by a small 2.28% over the past 24 hours as the cryptocurrency rolls over at  $230 and drops to $223.
    • The cryptocurrency failed to make ground above 0.023 BTC against Bitcoin and fell to 0.0224 BTC.
    • This latest price fall can largely be attributed to Bitcoin dropping back beneath $10,000 briefly.

    Key Support & Resistance Levels

    ETH/USD:

    Support: $212, $206, $201.

    Resistance: $230, $235, $240.

    ETH/BTC:

    Support: 0.0218 BTC, 0.0211 BTC, 0.0207 BTC.

    Resistance: 0.023 BTC, 0.0232 BTC, 0.0239 BTC .

    ETH/USD: Ethereum Reaches September 2019 Highs and Rolls Over

    Since our last analysis, Ethereum continued to drive past the resistance at $212 and climbed above the September highs at $225, as expected. It went further to reach $230 before stalling.

    Ethereum is still up by a total of 17.7% over the past week of trading with a further 55% price surge over the past 30 days.

    ETH has since rolled over at $230 and dropped toward the $223 level. It is currently using the upper boundary of the previous ascending price channel as support.

    Despite the small price decline, Ethereum still remains bullish until it drops back beneath $194 at which point it would be considered as neutral.

    ethusd-feb10
    ETH/USD. Source: TradingView

    Ethereum Short Term Price Prediction

    If the sellers continue to drive beneath $220, support lies at $212, $206, and $201. If the bears continue to bring Ethereum beneath $200, additional support can be found at $194, $185, and $176 (200-days EMA).

    Alternatively, if the bulls can defend $220 and push higher, the first level of resistance lies at $230. Above this, higher resistance lies at $235 (1.414 Fib Extension), $240 and $247 (1.618 Fib Extension). Beyond this, higher resistance lies at $260 and $271.

    The RSI has dropped slightly from extremely overbought conditions which can be considered as a good sign as it allows the buyers to return to a natural level of momentum to continue higher. Similarly, the Stochastic RSI produced a bearish crossover signal in overbought conditions which signal the start of the retracement.

    ETH/BTC: ETH Reaches 0.023 BTC and Also Rolls Over

    Against Bitcoin, Ethereum continued to penetrate above the resistance at 0.0218 BTC to continue higher into the 0.023 BTC level. It was unable to make ground above here and, instead, rolled over and started to drop to the current price of 0.0225 BTC.

    The market remains bullish, however, a drop beneath 0.021 BTC (200-days EMA) would turn the market neutral. It would need to drop beneath the 100-days EMA at 0.0196 BTC to turn bearish.

    ethbtc-feb10
    ETH/BTC. Source: TradingView

    Ethereum Short Term Price Prediction

    Looking ahead, if the sellers continue to push beneath 0.0225 BTC, support is expected at 0.0218 BTC. Beneath this, additional support lies at 0.0211 BTC, 0.0207 BTC (.5 Fib Retracement), and 0.02 BTC (.618 Fib Retracement).

    On the other hand, if the bulls defend 0.0225 BTC and push higher, the first level of resistance lies at 0.023 BTC. Above this, resistance lies at 0.0232 BTC (1.414 Fib Extension) and 0.0239 BTC. If the bulls continue above 0.024 BTCc, additional resistance can be found at 0.025 BTC.

    The Stochastic RSI has also produced a bearish crossover signal here as the pullback starts. Additionally, the RSI has also dropped slightly from overbought conditions as the bullish momentum starts to show signs of fading.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Ethereum (ETH) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yaz Sheikh
    More posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$21,117.00
  • ethereum
    ETH$1,628.83
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Binance BNB Burn Explained: How Much is Burnt and When?

    Binance BNB Burn Explained: How Much is Burnt and When?

    Will New Tokens be Airdropped to ETH Holders After Ethereum’s Hard Fork?

    Will New Tokens be Airdropped to ETH Holders After Ethereum’s Hard Fork?

    Cardano’s Vasil Hard Fork Explained: What to Expect from the Major Upgrade?

    Cardano’s Vasil Hard Fork Explained: What to Expect from the Major Upgrade?

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Institutions Are Starting to Buy Back: Interview with Nansen

    Institutions Are Starting to Buy Back: Interview with Nansen

    Top 5 Most Common Scams Related to Ethereum 2.0

    Top 5 Most Common Scams Related to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!