Key Highlights
Ethereum slumps to $1,386.36 low and resumes upward
The crypto has resumed upward and targets the $2,000
Ethereum ETH) Current Statistics
The current price: $1,629.44
Market Capitalization: $187,011,986,101
Trading Volume: $50,431,709,770
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400
Ethereum (ETH) Price Analysis February 24, 2021
Following the recent breakdown on February 20, the biggest altcoin has further declined to the low of $1,360 but pulled back. Buyers are attempting to push the price upward but are facing minor resistance above $1,600 high. Ether is trading at $1,623.30 at the time of writing. On the upside, if buyers push price above $1,800, the coin will resume upside momentum. Besides, Ether will be out of the bearish trend zone. Conversely, if the bears break below the current support at $1,400, the crypto will further depreciate to $1,200 or $1,000 low.

ETH Technical Indicators Reading
The crypto currency is in a bullish momentum above the 30% range of the daily stochastic. The crypto’s price fell to the support of the 50-day SMA. It is an indication of further upward movement of the coin. The downtrend would have continued if price breaks below the 50-day SMA and closed.

Conclusion
Ethereum fell and it is consolidating above the $1,400 support. According to the Fibonacci tool, the selling pressure has been exhausted. On February 20 downtrend; a retraced candle body tested the 38.2 % Fibonacci retracement level. This retracement implies that ETH will fall to level 2.618 Fibonacci extensions or a low of $1,386.36. The price action has tested the support level and pulled it back.
You can purchase crypto coins here: Buy Coins
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
- Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
- Zero commissions and no bank fees on transactions
- Around the clock service with support in 14 languages
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated