This latest 28 February ETHUSD Price Technical Outlook reveals that Ethereum has moved up by more than 50% since February, 6 when it reached a multi-month low of $560. What is more?
28 February, OctaFX – In the past two weeks, however, the price has remained within the $800 and $900 channel, meaning that traders are slightly cautious. The currency often runs out of steam whenever it approaches the psychological $1,000 mark.
Part of the reason for the range trade is that there has been no major news in the cryptocurrencies market. Yesterday, it was reported that a hacker who had stolen 20,000 Ethers from the Coindash ICO returned them. This was the second time that hackers had returned back stolen coins.
28 February ETHUSD Price Technical Outlook
Technically, the ETH/USD pair is on an ascending trend, with its price slightly above the 50-day and 100-day moving average. The pair is showing a weak trend as shown by the Average Directional Index (ADX). Nonetheless, the pair should continue moving higher unless there is negative news with the next short-term price target being $910.
This article about 28 February ETHUSD Price Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.
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