Ethereum (ETH) Price Analysis: Ether Consolidates Above $1,700 Support, Faces Rejection at the Recent High

11 February 2021 | Updated: 11 February 2021

Key Highlights
Ethereum attains a new high of $1,825 but faces rejection
The biggest altcoin retraces to consolidate above $1,700

Ethereum ETH) Current Statistics
The current price: $1,725.59
Market Capitalization: $198,057,849,490
Trading Volume: $39,676,507,929
Major supply zones: $1,500, $1,600, $1,700
Major demand zones: $600, $500, $400

Ethereum (ETH) Price Analysis February 11, 2020
Ethereum attained a new high of $1,825 but could not sustain the upward move. Yesterday, the biggest altcoin was repelled as the coin slumped to $1,700 support. For the past 48 hours, Ether has been fluctuating between $1,700 and $1,760. The $1,760 resistance was the previous peak price of Ether. On the upside, if a breakout occurs at the minor resistance of $1,760, it will retest or break the $1,825 high. The bullish momentum will extend to reach the targeted price level of $2,000. Nonetheless, if the upside momentum fails to resume, Ether may be range-bound between $1,700 ad $1,825.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
The cryptocurrency is above the 80% range of the daily stochastic. This indicates that the price has reached the overbought region. It is in a bullish momentum. Ether is at level 52 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone and capable of rising.

ETH/USD – 4 Hour Chart

Conclusion
Ethereum is currently fluctuating above $1,700 for a possible upward move. Nevertheless, on February 10 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. It indicates that the market will rise to level 1.272 Fibonacci extension or the high of $1,932.34. Later Ether will reverse to 78.6% Fibonacci retracement level where it originated


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.