Baxia Markets
February 16, 2022

Ethereum is up 10.76% in two days

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The cryptocurrency managed to break two resistance levels in the last two trading sessions, the price broke the 32.8% and 50% Fibonacci retracements and gets back on the general upward trend.


The Bollinger Bands are wide and they are moving upwards which is a good indicator that the uptrend would continue in the short term, the price is getting closer to the upper band and could be considered relatively high very soon if the upper band doesn't continue expanding, we could still see a 4.5% increase before reaching the upper band.


ETH Feb 15th 2022


The relative strength index is at 57% which is at a good spot after breaking two resistance levels, this will allow the price to continue climbing in the short to mid-term; however, the price entered the Ichimoku cloud which can be seen as market uncertainty, which could bring a consolidation period.


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cryptocurrency, trading conditions, technical analysis, trading indicator

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