Ethereum price struggles to hold above the support at the 50 SMA as well as the ascending trendline. As long as ETH/USD stays under $275; a bearish cloud would continue threatening the bulls with a drop to $225. Ethereum had impressed many analysts and crypto enthusiasts with its weekly close above $275. Many had started seeing the grand gesture as the beginning of the journey to $300. However, sellers had a hidden bullet; unleased on Monday during the Asian trading session. ETH/USD spiraled from $278 (intraday high) to $266.17 (intraday low). The existing trend is bearish amid increased selling activities, further jeopardizing the trajectory to $300. Ethereum price could revisit $225 area A renowned analyst on Twitter Teddy, says that Ethereum trading above $275 is “beyond bullish.” However, a slide under this region would be interpreted as a rejection from a key barrier. Therefore, it could send Ethereum price back to $225 (previous resistance and possible support). #ETHEREUM | $ETH Weekly close above 275 beyond bullish __ Anything below I see it as a rejection from a key resistance. Suggesting that it may revisit 225 area as a retest of previous resistance as support pic.twitter.com/RyT6XOcGRl — TEDDY (₿) (@TeddyCleps) February 23, 2020 Ethereum price technical picture Ethereum is trading at $268 following a 2.5% loss on the day. There is a struggle to stay above a short term trendline on the hourly chart. Also providing support is the 50 SMA while the 100 SMA at $263.56 will come in handy if the price slides further towards $260. The upside is capped by a growing resistance at $270. If the selling zone remains intact, Ethereum could settle in a sideways trading action especially during the European session. Further upside action will depend on the buyers’ ability to sustain gains above $275 and $280 respectively. ETH/USD hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Crypto News share Read Next USD/CAD: Buyers cheer WTI weakness, coronavirus outbreak above 1.3250 FX Street 2 years Ethereum price struggles to hold above the support at the 50 SMA as well as the ascending trendline. As long as ETH/USD stays under $275; a bearish cloud would continue threatening the bulls with a drop to $225. Ethereum had impressed many analysts and crypto enthusiasts with its weekly close above $275. Many had started seeing the grand gesture as the beginning of the journey to $300. However, sellers had a hidden bullet; unleased on Monday during the Asian trading session. ETH/USD spiraled from $278 (intraday high) to $266.17 (intraday low). The existing trend is bearish amid increased selling activities,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
