Ethereum rate forecast for February 2024

Welcome to the crypto website. My name is Victor, here is my description on the topic: Ethereum rate forecast for February 2024 #ETH-USDT, using the TradingView service. Read and write comments to this post

Ethereum rate forecast

Monthly timeframe
I, Victor from CryptoViktor UA, see on the monthly timeframe of Ethereum (ETH) that after a long period of growth, ETH has entered a correction phase. This is a common process after a significant rise, and we can expect some stabilisation in the coming months.

Weekly timeframe
On the weekly timeframe, ETH is showing some signs of recovery. The stochastic oscillator indicator is in the underbought zone, which may signal a short-term upside.

Daily timeframe
On the daily timeframe, ETH shows little change, but with signs of potential growth. This could be a good time for traders looking for short-term opportunities.

Buyer/seller sentiment

Sentiment among ETH buyers and sellers remains divided. Some expect continued growth, while others see potential for further declines.

Bitcoin, bitcoin
Bitcoin is currently going through its own changes, which may indirectly affect Ethereum. If bitcoin shows growth, it could have a positive impact on ETH.

Summary of the course forecast for the month
In summary, my forecast for the month for Ethereum is cautiously optimistic. Short-term growth is possible, but the market can still be volatile, so it is important to keep a close eye on market signals.