https://ift.tt/ANzcQ8Z May Head For $3500 Resistance

Ethereum Price Prediction – February 11

The Ethereum price prediction shows that ETH is likely to stay above the moving averages as eyes are currently glued on $3300.

ETH/USD Market

Key Levels:

Resistance levels: $3700, $3900, $4100

Support levels: $2500, $2300, $2100

ETH/USD is refreshing to the upside as the coin currently trades at $3104 with a bullish crossover and trend in the intraday. Today, the number two crypto is likely to stay above 9-day and 21-day moving averages as the higher resistance may come at the $3500 resistance level.

Ethereum Price Prediction: Ethereum Price May Spike to the Upside

At the time of writing, the Ethereum price is likely to increase the bullish movement if the price moves toward the upper boundary of the channel. Currently, the technical indicator Relative Strength Index (14) is moving around 54-level at the moment and may likely send bullish signals to encourage more buyers to enter the market.

Nevertheless, in as much as the 9-day MA remains above the 21-day MA, it is likely for the coin to face the north and the price could hit the nearest resistance levels at $3700, $3900, and $4100 respectively. More so, if the technical indicator Relative Strength Index (14) drops below 50-level, there may be a little retreat to the south which could bring the market to the support levels of $2500, $2300, and $2100.

Comparing it with Bitcoin, Ethereum (ETH) stays within the 9-day and 21-day moving averages as the price could make a bullish cross above the 9-day MA. However, for the fact that the market remains in the descending channel, the crypto is likely to form a bullish movement below as the technical indicator Relative Strength Index (14) moves to cross above 50-level.

However, if the buyers push the market price towards the upper boundary of the channel, the Ethereum price may touch the resistance level of 7700 SAT and above. Meanwhile, any strong selling pressure may bring the price below 21-day MA, and this could attract new sellers coming into the market with the next focus on the support level of 6500 SAT.

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