Ethereum (ETH) Price Analysis – February 18

  • The ETH price faces resistance at the $160 price level.
  • The ETH price is in a strong bullish momentum in the short and medium-term trend.
  • The crypto's price is expected to reach the highs of $160 and $200  but may face resistance at the $160 price level.

Ethereum, ETHUSDEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bullish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $130, $120, $110   

Last week, the price of Ethereum was ranging above the $120 price level. On February 8, the bulls broke the 12-day EMA, the 26-day EMA and the crypto's price reached a high of $127.37. The bulls have succeeded in breaking the $130 resistance level which was unbroken since January 10. Today, the ETH price has commenced a series of higher highs and higher lows.

The crypto's price is trading at $145.54 as at the time of writing. On the upside, the crypto's price is expected to reach the highs of $160 and $200 price levels but may face resistance at the $160 price level. The ETH price should be sustained above the EMAs and the bulls break the $160  resistance level. Meanwhile, the stochastic band is in the overbought region but above the 80% range which indicates that the price is in a strong bullish momentum and a buy signal.

ETHUSD Short-term Trend: Ranging 

Ethereum, ETHUSDEthereum Chart By Trading View

On the 4-hour chart, the price of Ethereum is in a sideways trend. The 12-day EMA and the 26-day EMA were trending horizontally as the crypto's price was range bound above the $120 price level. Today, the price of Ethereum is in a smooth uptrend. The crypto's price is making a series of higher highs and higher lows.

If the bulls sustained their momentum and break the $160 resistance level, the crypto will reach its previous high of $200.The stochastic is in the overbought region but above the 80% range which indicates that the price is in a strong bullish momentum and a buy signal.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.                                                                                                        

Max Keiser: Bitcoin Dominates Altcoins in Cryptocurrency Debate

  • Keiser Report host Max Keiser claims that bitcoin continues to dominate altcoins and provide more investor security.
  • Keiser predicted bitcoin's market dominance and hash rate to reach 99 percent within the next five years. 

Max Keiser, host of the Keiser Report, claims that bitcoin has no cryptocurrency rivals and that most altcoins fail to live up to the standard set by BTC. 

Speaking in an appearance on London Real, Keiser dismissed the possibility of a new crypto-asset emerging and eating into bitcoin’s market dominance. 

He said, 

There’s no coin out there that can do what Bitcoin doesn’t do already or will be able to do shortly. What you’re buying with Bitcoin is security.

Keiser continued, arguing that hard forks of bitcoin such as bitcoin cash and SV lack security compared to the original BTC.

The avid bitcoin supporter also referred to several altcoins as being “pure exit scams,” intentionally designed to manipulate investors. 

He explained, 

They have huge ‘pre-mines’ that the founders are selling or dumping and making a lot of money. A lot of people are losing money, and they have no use case. So like a Ripple or an Ether, even, is an exit scam. It’s to be avoided. Those are the top coins.

Keiser predicted that bitcoin’s market share and hash power, sitting at 65% and 85% respectively, will continue to rise relative to the market. He claimed that within five years bitcoin will account for 99% of all cryptocurrency hashing power and market capitalization. 

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