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Ethereum Technical Analysis: Ethereum Struggles To Hold On!

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Ethereum, the second largest currency behind the leading cryptocurrency Bitcoin, is trying to hold on above the averages, although it cannot maintain its rise yesterday. Ethereum, which did not close above the $ 1700 level and retreated, started the first trading day of March with very immediate purchases and had a good day by closing above the averages. Ether, which resisted the sales on the Bitcoin side last night and showed a good closure, has withdrawn a little today. ETH, which started the day at $ 1605, increased by 3.73% and closed at $ 1665.

Ethereum, which started at the $ 1665 level, is trading at $ 1646 with a decrease of 0.30% at the time of writing.

Ethereum Chart Analysis
Ethereum Technical Analysis: Ethereum Struggles To Hold On! 10

Ethereum Chart Analysis

Starting the first trading day of March with hard buys, Ethereum performed relatively better based on the overnight sales on the Bitcoin side. When we examine the chart, Ethereum, which managed to rise above the EMA5 and EMA21 averages in just one candle, is trying to close above these averages today. If the closes continue above EMA5 and EMA21, it will target our above resistance zone, $1700. In case of possible pullbacks, the levels of $ 1640, which is EMA5, and $ 1628, which is EMA21, are our support points for today.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when deciding.

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