Ethereum Latest Price Analysis- Feb 15, 2019- Ethereum Struggling To Break Above $130 Price Level.

Anisa Batabyal
| 15 February, 2019 | 2 min

#1 Key Highlights

  • Ethereum (ETH/USD) price tested $130 but couldn't break.
     
  • Ethereum trading pair retraced to $123 price level i.e. 5% drop.
     
  • It is resting above 200H-SMA (Simple Moving Average).
     

#2 Chart Analysis – Hourly (1H) Chart ETH/USD (Bitfinex)

ETH/USD pair is accelerating in an upward channel and tested the range's low of the same.

Looking at the ethereum trends on Hourly (4H) chart timeframe, there is not enough buy volume(interest) to push the pice above $130+ price level. Also, Ethereum price analysis today shows that it is crucial to breaking above the preliminary resistance around $130+ price level to maintain bullish momentum.

Though 200H-SMA is providing preliminary support, it is possible that it won't be held longer and will eventually $118+ price level.

Stoch-RSI and MACD indicators are curving into bearish sentiments as well.

Looking at the ethereum technical analysis today, one can observe it needs to hold above S/R flip zone to remain bullish because If it didn't hold then it will test next support level around $111+ price.

#3 Conclusion

Overall, There is an upcoming ethereum news or catalyst about reducing the block size and with Ethereum price analysis 2019 might observe some effects on it.

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