Ethereum Price Prediction: ETH Makes Strong Push, Surges Past $3000 

Daily Ethereum ETH Technical Analysis

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Last Updated February 16th 2022
3 Min Read
  • The Ethereum price is currently up by over 6% during the ongoing session. 
  • ETH had been quite bearish during the previous week and had dropped to $2871 on Sunday. 

The Ethereum price is significantly up during the ongoing session, as buyers significantly pushed the price. ETH was quite bearish during the previous week and had registered a marginal drop on Saturday before dropping by 2.77% and ending the weekend at $2871. The current week saw ETH back in the green on Monday, as it pushed up by over 2%, before surging past $3000 during the ongoing session. 

Ethereum Price Chart Indicates ETH Could Settle Above $3100 

The Ethereum price had started the previous weekend on a fairly bullish note, rising by 0.62% on Saturday and then by 1.40% on Sunday to end the weekend at $3057. Monday saw ETH remain bullish, rising by nearly 3% and moving to $3141, before registering a marginal drop on Tuesday and falling to $3121. However, ETH recovered on Wednesday, rising by over 4%, pushing above the 50-day SMA and moving to $3247. However, ETH could not stay at this level and fell back on Thursday, slipping back below the 50-day SMA and falling to $3086.

Image: ETH/USD daily

ETH/USD daily chart 021622

The Ethereum price remained in the red on Friday, as it fell by over 4% and dropped to $2959. ETH continued to drop over the weekend, registering a marginal drop of 0.20%, before falling by nearly 3% and ending the weekend at $2871. At this level, the 20-day SMA was acting as support, and ETH pushed up on Monday, rising by 2.04% and moving to $2930. The current session sees ETH at $3100, as buyers look to push the price higher.

We can see that the Parabolic SAR has flipped to bearish, indicating a price drop. However, the MACD remains bullish.

IntoTheBlock’s IOMAP for the Ethereum price shows us that ETH has strong support at around $2681. At this price level, over 800,000 addresses have bought more than 9 million ETH.

Image: IntoTheBlock 

ETH/USD volume chart 021622

The 4-hour Ethereum price chart shows us that ETH had pushed up to $3250 on the 9th. The price fell back from this level, dropping below the 20-bar SMA and falling to $3086. ETH continued to drop from this level, slipping below the 50-bar SMA on the 11th and dropping to $2959 on the 12th. ETH registered a marginal fall from this level, falling to $2916, where the 200-bar SMA acted as support. As a result, ETH was able to stay at this level for a few sessions before dropping below the 200-bar SMA and falling to $2858 on the 13th. ETH recovered from this level, registering a strong increase and pushing above all three SMAs, and moving to its current level of $3100.

We can see that the MACD and Parabolic SAR are both bullish, indicating that we could see the price push higher.

Image: ETH/USD 4-hour

ETH/USD 4-hour chart 021622

Ethereum Price Is Expected To Reach These Levels

Looking at the Ethereum price chart, we see that ETH has had a fairly bullish start to the week, with the price up considerably during the ongoing session. If the current sentiment persists, ETH could push towards $3150. However, if bearish sentiment pushes the price down, we could see ETH slip towards $3000.