Key Highlights
Ethereum bulls are struggling to hold above $1,300 support
The biggest altcoin will slump again if the current support at $1,400 is broken
Ethereum ETH) Current Statistics
The current price: $1,354.55
Market Capitalization: $156,343,211,173
Trading Volume: $22,578,249,561
Major supply zones: $2,000, $2,200, $2,400
Major demand zones: $1,800, $51,600, $1,400
Ethereum (ETH) Price Analysis February 28, 2021
Ethereum bulls are struggling to hold above the $1.300 support as sellers threaten to short. This second round of downtrend was caused by the bulls’ failure to sustain above $1,700 resistance. Following its rejection at $1,700, the coin fell to $1,400 and pulled back. The Pullback was short-lived above the $1,500 high as bears pushed price below $1,400 support. The bears have broken the current support as price falls to $1,364.80 at the time of writing. We expect the price to reach the lows of either $1,000 or $1,200.
ETH Technical Indicators Reading
The crypto’s price has fallen below the 25% range of the daily stochastic. It indicates that Ether has fallen into the oversold region of the market. In the oversold region, sellers may emerge to push prices down. The crypto is at level 34 of the Relative Strength Index period 14. The coin is in the downtrend zone and below the centerline 50.
Conclusion
Ethereum may continue its downward move. The price has fallen into the oversold region. On February 23 downtrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. This retracement implies that ETH will fall to level 1.618 Fibonacci extensions or a low of $943.54.
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
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.