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Ethereum Price Prediction: ETH/USD Touches $1974 Resistance Level, Price Hits New High

ETH Price Prediction – February 19

The ETH/USD price is seen climbing higher and settling above the main $1900 resistance level.

ETH/USD Market

Key Levels:

Resistance levels: $2300, $2400, $2500

Support levels: $1600, $1500, $1400

ETHUSD – Daily Chart

ETH/USD had a significant boost yesterday and this allowed the coin to exceed the $1900 level, this momentum extending considerably as crypto continues to climb higher today. The current performance of the coin indicates the addition of an upward movement since last month. Therefore, in the next few positive movements, ETH/USD coin could reach the long-awaited resistance level of $2000 level.

What to Expect from Ethereum (ETH)

In the last couple of days, Ethereum has moved from $1782 to $1974 and towards the upper boundary of the channel at the time of writing. The on-going trend may move a little bit higher before the end of the trading today, and the coin may likely reach the nearest resistance at $2000, but if the bulls put more effort, it could hit additional resistance levels at $2300, $2400, and $2500 respectively.

However, a bearish movement may bring the market back below the 9-day and 21-day moving averages. Meanwhile, any further bearish movement may likely hit the critical supports at $1600, $1500, and $1400. As the trading volume increases slightly, the technical indicator RSI (14) is seen moving into the overbought region and this could still supply more bullish signals into the market.

When compares with Bitcoin, Ethereum is trading below the 9-day and 21-day moving averages. The price is changing hands at 3528 SAT as the technical indicator RSI (14) stays below the 45-level. However, the buyers may come into focus and any further bullish movement may likely push the market price above the moving averages and towards the upper boundary of the channel.

ETHBTC – Daiy Chart

Positively, the resistance levels to be reached are 4400 SAT and 4600 SAT. Conversely, a lower sustainable move may likely occur if the price drops below the lower boundary of the channel and it could attract new sellers to the market with the next focus on supports at 2900 SAT and 2700 SAT.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

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