Ethereum (ETH) Price Analysis – February 20

  • If the crypto's price is sustained above the EMAs, the crypto will revisit the $160 price level.
  • The ETH price is likely to face resistance at the $150 price level which had not been broken since November 19, 2018.

Ethereum, ETHUSDEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bullish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $140, $130, $120   

The price of Ethereum is still in a bullish trend after the price rally on February 8. The crypto's price was also in a range bound movement for about a week after the February 8 price rally. On February 17, the bulls commenced a fresh bullish trend and reached a high of $148.87. The following day the crypto's price had a downward correction to the low of $146.61.

Today, the bullish trend of ETH price is ongoing. The crypto's price is likely to rise because the price is above the 12-day EMA and the 26-day EMA. However, the ETH price is likely to face resistance at the $150 price level. The $150 price level had not been broken since November 19, 2019.

On the upside, if the price is sustained above the EMAs and the $150 resistance level is broken the crypto will revisit the $160 price level. Meanwhile, the stochastic band is in the overbought region and above the 80% range which indicates that the price is in a strong bullish momentum and a buy signal.

ETHUSD Short-term Trend: Bullish        

Ethereum, ETHUSDEthereum Chart By Trading View

On the 4-hour chart, the price of Ethereum is in a bullish trend. Yesterday, the crypto's price was resisted at the $152 price level and the ETH price fell to a low of $145.49. The ETH price fell to the 12-day EMA and commenced a fresh bullish movement. The bulls are making another attempt at the $150 resistance level.

The crypto's price is likely to rise because the price is above the EMAs. On the downside, if the bulls fail to break the $150 price level, the crypto's price will be on a range bound movement.The stochastic is in the overbought region but below the 80% range which indicates that the price is in a bearish momentum and a sell 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.                                                                                                        

Bitcoin Suisse Starts Letting Clients Trade Gold, Silver and Platinum

Swiss crypto broker Bitcoin Suisse has started letting its users trade gold, silver, and platinum against the top two cryptocurrencies bitcoin and ether, as well as against fiat currencies.

According to an announcement the firm published, its clients can now trade gold, silver, and platinum 24/7 with immediate cash settlement. Bitcoin Suisse touts clients now have a greater choice of strong assets to build up a diversified portfolio using its platform, providing them with options in times of high market volatility.

Bitcoin Suisse rolled out its 24/7 trading of fiat currencies late last month, and added in its recent announcement that with precious metals users have access to assets that have been long used in investment strategies. Bitcoin Suisse’s head of trading and liquidity, Stefan Lütolf, added:

Recent developments have boosted the demand for scarce, highly valuable assets such as gold and Bitcoin. Bitcoin may not be Gold 2.0, yet. In the meantime, we want to give our clients the maximum choice possible.

The precious metals trading pairs are being offered to all of Bitcoin Suisse’s clients, with a minimum purchase requirement of 100 CHF (around $103), and with no custody fees for up to 100,000 CHF ($103,000).

Gold, silver, and platinum can be traded n the platform against BTC and ETH, and against major fiat currencies like the CHF, USD, GBP, EUR, and DKK. Precious metals trades are settled immediately for fiat currencies with a two-day lapse. The firm’s statement reads:

Even with increased access in recent years, the possibility of combining precious metal investments with so-called “digital gold” (Bitcoin) remains difficult. Now Bitcoin Suisse is helping to change this.

It’s worth noting that with cryptocurrency exchange Vaultoro users could already trade the flagship cryptocurrency for physical gold. The gold users buy using Vaultoro is then stored in the client’s name in high-security vaults in Switzerland.

Featured image by Dmitry Demidko on Unsplash