ETHUSD: Bullish Engulfing Sample Above $2,800
Ethereum was unable to maintain its Bullish momentum final week, and after touching a excessive of $3,280 on February 10, it began to say no with a low of $2,837 on February 13.
The promoting we noticed in ETHUSD occurred because of a broad-based liquidation of the belongings into the USD following the fears (which now appear to have subsided) of a warfare between Russia and Ukraine.
ETHUSD continues to take care of its consolidation above $3,000 and is at the moment buying and selling at $3,126 within the European buying and selling session.
We will clearly see a bullish engulfing sample above the $2,800 deal with which signifies a bullish continuation and formation of an uptrend.
ETH is now buying and selling simply above its pivot stage of $3,100 and is shifting in a consolidation channel. The value of ETHUSD is now testing its traditional resistance stage of $3,119, and Fibonacci resistance stage of $3,130 after which the trail in direction of $3,300 will get cleared. ..Extra data: weblog FXOpen
