Ethereum News Today – Headlines for February 15

ethereum ecosystem
  • Ethereum posts new gains
  • Ethereum price has grown by 140% since January 1
  • The bull run is set to continue in the near-term

Ethereum News Today – a close look at the daily chart for Ether shows that the digital asset posted a new yearly high point. The coins price has added value since reaching its previous swing high of 120%. On January 15, the price of Ethereum was trading at $283. Ether eventually pulled back to reach lows of $255 after it reached the high price of $275. Yesterday, the Ether bulls posted gains pushing the price of the digital asset to highs of $290.

Ether has Gained 30% Against BTC

The price of Ethereum Gas has gone up by 30% w.r.t against BTC on the daily chart. Gas here means the underlying fee required of miners to fuel smart contract and transaction executions. It increased by nearly 120% from the swing lows of December 2019 to a high point of 0.00026 BTC.

August last year, saw the price of Ether begin a downfall. However, the coin’s usage has been considerably rising. Moreover, in the past, Ether’s price charts have dominated in terms of usage levels. Nevertheless, this recent push in ETH’s on-chain analytics is influenced by the bulls. Hence, we may see a few pullbacks, but the overall outlook of the digital asset remains in bullish territory.

While several indicators are pointing towards the over-bought position on the charts, analysts have continued to make bullish arguments on ETH/USD. One of the top chart analysts’ and trader known as Escobar tweeted about the bullish resistance areas and their expected targets. Currently testing two years of bear action looks like a huge double bottom reversal may play out. The first red line at $375 is a critical position for a macro bull run in Ether.

Ether has Had Resistance at $350-$375

ETH/USD High-Time frame resistance position stands between $350-$375 at press time. This area marks the 23.2% Fib Retracement point from the swing high above $1400 three years ago. At least two technical analysts agree on the High-Time Frame bullish resistance of the price of Ether before the $500 level.

Josh Rager, one renowned crypto analyst, and trader shared his view on Ethereum. He tweeted on the coin’s long-term bullish sentiments. According to him, the official “send it” position for the ETH/USD pair is breaking close above the $360 on high periods. For anyone who is looking to accumulate Ether, if you are not in at $360 then no need to FOMO because pullbacks will reoccur and there is more than enough time

Finally, the price levels are expected to present a huge resistance position to the ETH bulls. The one-sided upward movement is already due for a fresh pullback for some time now.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.