Key Support Levels for ETH: $120, $115.15, $110.46, $102.55, $100
Key Resistance Levels for ETH: $124.91, $127.36, $130.90, $134.05, $135, $138.58, $142.63
Ethereum (ETH) Price Analysis
Ethereum's market price has experienced a remarkable surge of nearly 25% over recent trading sessions, currently trading around $122.49**. This rally began on **February 8, 2019**, when prices climbed from **$105 to $124.91.
With a market cap of $12.66 billion, ETH has reclaimed its position as the second-largest cryptocurrency by market capitalization, surpassing Ripple (XRP).
ETH/USD Price Trends
- Current Trend: Bullish
- Critical Breakthrough: Prices crossed $115, establishing a higher high and shifting the market from bearish to bullish.
- Next Target: A sustained breakout above $127 is needed to confirm continued bullish momentum.
Potential Scenarios
1. Bullish Continuation
- Immediate resistance at $127.36 (0.382 Fibonacci retracement).
Further resistance levels:
- $130.90 (1.272 Fib extension)
- $134.05 (1.414 Fib extension)
- $135 (0.5 Fib retracement)
- $138.58–$142.63 (1.618 Fib extension & 0.618 Fib retracement).
2. Bearish Reversal
Support levels if prices decline:
- $120 (psychological support)
- $115.15 (0.618 Fib retracement)
- $110.46 (mid-term 1.414 Fib extension)
- $102.98 (1.618 Fib extension).
ETH/BTC Analysis
- ETH/BTC surged 15%, peaking at 0.034212 BTC (0.382 Fib resistance).
- Current trading level: 0.033112 BTC (0.236 Fib retracement).
- Bullish confirmation requires a breakout above 0.034212 BTC.
Key Levels for ETH/BTC
Upside Resistance:
- 0.034212 BTC (0.382 Fib)
- 0.035372–0.03690 BTC (1.272–1.618 Fib extensions).
Downside Support:
- 0.03229 BTC (long-term 1.272 Fib extension)
- 0.030143 BTC (1.618 Fib extension).
Conclusion
Ethereum's 25% rally has shifted market sentiment from bearish to bullish. The next critical resistance is $127**—a breakout could propel ETH toward **$150.
👉 Explore Ethereum trading strategies to capitalize on this momentum.
FAQ
1. What caused ETH’s recent price surge?
ETH’s rally was driven by increased buying pressure and a shift in market sentiment, supported by key technical levels.
2. How does Ethereum’s market cap compare to Ripple’s?
ETH’s $12.66B market cap surpassed XRP’s, reclaiming its position as the #2 cryptocurrency.
3. What’s the next major resistance for ETH/USD?
The $127–$135 range is the next hurdle. A breakout could lead to $150.
4. Is now a good time to buy ETH?
While the trend is bullish, always conduct thorough research and assess risk tolerance before investing.
5. What’s the outlook for ETH/BTC?
A breach above 0.034212 BTC could open the door for further gains against Bitcoin.
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