Ethereum (ETH) (US dollar)

The TrainFactory price analysis is based on the chart below at the time of the study. The TrainFactory team prepares the daily research. Barry Norman is the lead financial analyst, along with John Roman. The team uses support and resistance levels, trendlines, 20 periods EMA and MACD to determine.  

Ethereum (ETH) (US dollar) 

The TrainFactory outlook and analysis are based on the chart below. 

At this writing, Ethereum (ETH/USD) is trading at $1648.47 after tumbling to $1498.44. Short-term technical analysis suggests that Ethereum’s least resistance path is downwards. The Moving Average Convergence Divergence (MACD) has dipped under the midline. The MACD line (blue) already crossed below the signal line, which is a critical bearish signal. Investors are likely to continue selling as long as the MACD line increases the divergence beneath the signal line. Ethereum (ETH) has tanked over 16%, with its price slipping below $1600 levels. Two days back, on Sunday, February 21, ETH price surged past $2000 levels. However, it has failed to sustain that high peak and has corrected 20% since then. 

There was also a spike below the $1,400 level, and the price traded as low as $1,357. The price is currently correcting losses and trading nicely above $1,500. A break above the 50% Fib retracement level of the recent decline from the $1,804 swing high to $1,357 swing low. 

Ether is now trading just above the $1,600 level, but it is still well below the 100 hourly simple moving average. There is also a primary bearish trend line forming with resistance near $1,630. 

 

Oscillators & Indicators 

Relative Strength Index (14) 37.14 Neutral 

Stochastic %K (14, 3, 3) 47.94 Neutral 

Average Directional Index (14) 62.73 Neutral 

Momentum (10) Sell 

MACD Level (12, 26) Buy