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Home / Business / Bitcoin and Ethereum-Weekly Technical Analysis-February 22, 2021

Bitcoin and Ethereum-Weekly Technical Analysis-February 22, 2021



Ethereum

As of the week of the 21st, Ethereum rose 7.34%Yingshi February. After rising 11.65% last week, Ethereum closed at $1,935.57 this week.

The beginning of the week was also mixed. Ethereum fell to a week low of $1,659.93 before Monday.

Ethereum avoided the first major support at $1,621 and rebounded to Saturday’s intra-week high with a new volatility of $2,041.42.

Ethereum broke through the first major resistance at $1,932 and then fell below $1,900 later on Saturday.

However, finding support on Saturday night and Sunday, Ethereum broke through the first major resistance level and closed the week at $1,935.

The 5-day green trading included a 3.93% gain on Wednesday and a 4.73% gain on Thursday, which contributed to this week’s rise.

Next week

Ethereum needs to avoid falling below the pivot level of $1

,879 to support the first major resistance level of $2,098.

However, the support of Ethereum is needed to make it break through the new high of last week at $2,041.42.

Unless there is another cryptocurrency rebound, the first major resistance level may limit any upside.

If there is another breakout, Ethereum can test the $2,300 resistance level before any pullback. The second major resistance is at $2260.

If it fails to avoid falling below the pivot level of $1,879, the first major support level of $1,717 will be played.

Unless there is further selling this week, Ethereum should stay away from levels below $1,700. The second major support is at $1,497.

At the time of writing, Ethereum was down 2.30% to $1,891.01. This week’s price was mixed. Ethereum rose to a Monday morning high of $1,938.95 and then fell to a low of $1,871.18.

Ethereum did not test major support and resistance levels at the beginning of the week.


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