Home Stock ETHUSD and LTCUSD Technical Evaluation – sixteenth FEB, 2023 – Analytics & Forecasts – 16 February 2023

ETHUSD and LTCUSD Technical Evaluation – sixteenth FEB, 2023 – Analytics & Forecasts – 16 February 2023

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ETHUSD and LTCUSD Technical Evaluation – sixteenth FEB, 2023 – Analytics & Forecasts – 16 February 2023

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ETHUSD: Double Backside Sample Above $1462

Ethereum was unable to maintain its bearish momentum and after touching a low of $1462 on thirteenth Feb, the worth began to appropriate upwards in opposition to the US greenback now ranging above the $1650 deal with at present within the Asian buying and selling session.

We are able to see a steady escalation within the value of Ethereum which is predicted to push up its value above the $1700 deal with.

The value of ETH has touched a brand new report excessive of 5 months.

We are able to clearly see a double backside sample above the $1462 deal with which is a bullish sample and signifies the top of a bearish section and the beginning of a bullish section within the markets.

ETH is now buying and selling simply above its pivot stage of 1681 and shifting right into a strongly bullish channel. The value of ETHUSD is now testing its traditional resistance stage of 1687 and Fibonacci resistance stage of 1693 after which the trail in direction of 1800 will get cleared.

We are able to see the formation of bullish engulfing traces within the weekly timeframe.

The relative power index is at 75.92 indicating a really robust demand for Ether and the continuation of the shopping for stress within the markets.

The RSI is giving an overbought sign, which implies that the worth is predicted to say no within the short-term vary.

Many of the technical indicators are giving a STRONG BUY market sign.

Many of the shifting averages are giving a STRONG BUY sign on the present market stage of $1683.

ETH is now buying and selling above each the 100 hourly easy and 100 hourly exponential shifting averages.

  • Ether: bullish reversal seen above the $1462 mark.
  • The short-term vary seems to be strongly bullish.
  • ETH continues to stay above the $1650 stage.
  • The typical true vary is indicating LESS market volatility. …Extra  information:  weblog  FXOpen 

Ether: Bullish Reversal Seen Above $1462

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