Ethereum Price Prediction Daily (16-Feb): ETH Bulls Fighting Back! Is This The Start Of A New Rally?

4:36 pm, Thu, 16 February 23

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Ethereum Price Prediction Daily (15-Feb)
Ethereum price prediction from our previous analysis Warning! ETH Getting Ready To Sell-Off. Find Out Why.

In our previous Ethereum analysis Warning! ETH Getting Ready To Sell-Off. Find Out Why. we identified a key Bearish Divergence Playing out in the Ethereum price chart and talked about how this could be a strong sell signal for the Altcoin.

However, since publishing that article we have seen massive bullish volume and buying power come back into the market, sending the Altcoin price soaring!

What does this price surge mean for Ethereum and what can we expect in the coming days? Find out all that and more in this Ethereum analysis.

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $30,000 Bonus when you fund your Bybit account with our Bybit link

Claim up to $30,030 in Bonus

100x Leverage

What Is Ethereum Up To Now?

ETH Bulls Fighting Back! Is This The Start Of A New Rally? Watch this price prediction in the 1-hour timeframe
ETH Bulls Fighting Back! Is This The Start Of A New Rally? Watch this price prediction in the 1-hour timeframe

The Ethereum price has broken through all major resistance in the 1-hour timeframe and it is now in bullish territory. However, there is a very high probability that this massive surge in ETH price we saw might have made the Altcoin become overextended to the upside.

So in the coming days, we expect to see the ETH price begin to cool down as bullish traders lock in profit and wait for a better level to re-enter the market.

This price cool-down could easily see the Ethereum price come back down to test the $1,608 key zone before finding support and rallying higher.

ETH Bulls Fighting Back! Is This The Start Of A New Rally? Watch this price prediction in the 1-hour timeframe
ETH Bulls Fighting Back! Is This The Start Of A New Rally? Watch this price prediction in the 1-hour timeframe

Final Verdict!

The Ethereum price is currently in the bullish territory in the 1-hour timeframe and in the coming days, we expect to see the Altcoin begin to form bullish structures (Lower-High) and continue pushing higher.

The most important level to watch is the $1,608 key zone! This was the zone the ETH bulls had to break through in order to retain control of this market. If the ETH price falls back below this zone, it can only mean more sells.

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: