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ETHEREUM TUESDAY

15th February 2022 | ZebPay Trade-Desk

ETH is down 4% week on week but has gained some traction over the past 24 hours, up 7%. ETH dominance is at 18.6%, and market capitalization is currently at $362bn. ETH seems to have solidified its foothold on the critical $3K support line, finding significant buying volume around the threshold. 

At the time of writing, ETH is trading at $3,020



ETH after making the recent high of $3,288 witnessed some profit booking and the asset corrected almost by 13.5% and made a low of $2884. ETH took the support at its 20 Day Moving Average and bounced back above the psychological level of $3k. The asset has a strong resistance zone from $3,300 to $3,415. If it breaks and closes above these levels then we can expect the prices to rally up to $3,850. Rising Moving Average and RSI above 50 indicates a good and positive sign for the asset.

Support 2Support 1AssetResistance 1Resistance 2
$2,400$2,750ETH$3,400$3,850

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation, or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum, etc are very speculative and are subject to market risks. The analysis by the Author is for informational purposes only and should not be treated as investment advice.

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