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Ethereum (ETH) Price Analysis for February 22

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Mon, 22/02/2021 - 15:31
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Ethereum (ETH) Price Analysis for February 22
Cover image via www.tradingview.com
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The market has entered the correction phase as almost all coins from the top 10 list are in the red zone. XRP is the only exception to the rule, rising by 6.82%.

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Top 10 coins by CoinMarketCap

The capitalization index has also dropped and is now $1.6 trillion.

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Cryptocurrency market capitalization

The relevant data for Ethereum is looking the following way:

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $202,898,375,754

  • Price: $1,683.17

  • Volume (24h): $28,373,625,574

  • Change (24h): -13.68%

The data is relevant at press time.

ETH/USD: Can bulls hold the $1,700 mark?

Last weekend, the Ether price was unable to continue its growth. On Saturday, the bearish momentum tested the support of $1,800, but by the end of the week, the pair managed to gain a foothold above the average price level.

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ETH/USD chart by TradingView

At the beginning of the week, sellers are trying to push the pair back below the 2-hour moving average EMA55. There was a surge in sales this morningnearly seven times the average trading volume.

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If the bears continue the onslaught, the price may again roll back to the support of $1,600.

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ETH/USD chart by TradingView

On the 4H time frame, Ethereum (ETH) is likely to test the liquidity level around $1,800 soon as the coin has made a false breakout of the MA 200.

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ETH/USD chart by TradingView

In the long-term view, bulls may close the daily candle below $1,800. If that occurs, there are many chances of seeing the chief altcoin trading at $1,350 within the next few days.

Ethereum is trading at $1,756 at press time.

 

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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