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Ethereum $ETH Price Outlook Feb09: Neutral to Bullish

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trend is UP

Ether has climbed only since midnight PDT on February 08 which coincided with the onset of Asian trading. The previous weekly trend was largely sideways with a dip when $BTC sank to $3380 on February 05 2019.

[Trend is “up” when the weekly price movement is predominantly upwards.]

 

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

 

The MACD on the four hour chart is strongly bullish. The price is easing from an intraday high of $123.00, and the last eight 4 hour sessions are bullish.

 

Ether began the day with the short term EMA(7) well below both the medium(25) and long(99) term EMA. Since then it has quickly ascended above both, on strong volume. The angle of divergence is currently up – and strongly bullish.

 

The Relative Strength Index on the chart is 76.2. This is an overbought state.

An overbought state is not an optimum entry point.

 

The 24 hour Bitcoin $BTC change is 7.43%. This may exert a bullish influence on Ethereum today.

 

Resistance levels: $123 $130.05 (January 14 2019) $159.26 (January 04 2018)

 

 

Comparing our outlook with independent, automated results from Investing.com shows:

 

Read the legal disclaimer.

The author does not hold Ethereum $ETH at the time of writing.

Image(s): Shutterstock.com

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