February 13, OctaFX – Ethereum is pressing against the $120.00 resistance level, with short-term bulls struggling to move price above the ETHUSD pairs 200-period moving average on the four-hour time frame.
Ethereum Price Technical Prediction
If buyers break this key moving average an advance towards the $140.00 level is possible, with the $160.00 level extended resistance. Continued failure around the $120.00 may provoke technical selling back towards the $108.00 technical support region.
- The ETHUSD pair is bullish while trading above the $120.00 level, key resistance is found at the $140.00 and $160.00 levels.
- If the ETHUSD pair fails around the $120.00 level, key support is found at the $115.00 and $108.00 levels.
This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.