Ethereum (ETH) Price Analysis (February 27)

    • Ethereum greatly follows the downward trend pattern as price is now falling towards the support level.
    • Bearish scenario is playing out in the short-term.

    ETH/USD Medium-term Trend: Bearish

    • Resistance levels : $260, $270, $280
    • Support levels: $110, $100, $80

    Having broken through the support level of $215, hence the beginning of a downtrend. The daily volume on the crypto is on a spike in the last three days as the market began its downward trend.

    The market is falling hard as Ethereum slopes below $230 leading to a market-wide sell-off. Ethereum the second-largest crypto losing 7% in the past days.

    $224.10 in the support area opens today’s daily market. Price is down at $210.78 in the support area below the two EMAs as at the time of writing this article, this suggests a downward trend in price of the crypto.

    However, the stochastic signal pointing down at around level 16% in the oversold region, suggests the market bears are out of hibernation also the return on ETHUSD is pretty solid in he days ahead in the medium-term.

    ETH/USD Short-term Trend: Bearish

    The coin remains in a bearish zone declined below the $215 support area. ETHUSD is now facing an increase in selling pressure in the short-term and it could continue to slide down if it breaks the $215 much down the trend line.

    The 4-hourly session opens today at $224.10 with its wick breaking the support trend line in the support area.

    Price is initially down at $217.22 below the two EMAs in the support area, an indication of a downtrend in the context of the market.

    Hence, the stochastic oscillator signal pointing up at around level 17% in the oversold region suggests that the momentum in the price of Litecoin might encounter a trend reversal in the nearby days in the short-term.

    Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication ( holds any responsibility for your financial loss.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Ben Jordan
    Ben Jordan
    Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    IOHK Reboots Byron Codebase, A Big Step Towards Cardano's Shelley Blockchain Upgrade

    IOHK Team has released a statement that the Byron upgrade is now complete. As per a press release, the upgrade will allow a seamless...

    Bitwise Plans To Target Retail Investors With Its Crypto Index Fund

    Bitwise has revealed that plans are underway to allow the retail market to participate in its large-cap index service. According to CoinDesk, Bitwise is working...

    Binance's Educational Platform Opens Up Government Approved Office in Shanghai

    Binance, one of the most popular crypto exchanges in the crypto-verse which also has many subsidiaries including Binance Academy (a blockchain and crypto-centred educational...

    XRP Trying to Retrace Months of Underperformance But Remains in a “Corrective” Structure

    XRP is up 12.5% but could still jump another 23%, A clean break above $0.21 would be “very bullish” Ripple granted an exemption...

    23k BTC on CME Futures and 50k BTC in Options Expiring Today

    Bitcoin is currently down 0.05% in the past 24 hours trading around $6,640 after hitting $6,872 last night, yet again rejected at $7,000 level....

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.