Ethereum trading cryptocurrency market update for Feb 27, 2019

Feb 27, 2019 --- Altcoins

Ethereum trading cryptocurrency market update for Feb 27, 2019

Daily Chart

The Ethereum Bitcoin price continues to consolidate around the 0.0xx level on neutral SCMR signals and mixed candle formations while market structure remains highly uncertain and price gets squeezed by the flatlining EMA's, all pointing to more sideways action over the coming days. Also note that the 100 SMA continues to rise and the Ichimoku Cloud is still bullish out in front of the market, both good signs for the bulls, however the 50 SMA has rejoined the 200 SMA in a downtrend, the momentum oscillators still have some recharging to do, and the volume indications remain lackluster overall which is why we'll stay patient for lower levels before getting involved on the long side once again.

Short term Members ProTrade - We will consider a small LONG position on a retracement back down to the 0.0xxx - 0.0xxx area with a stop just below 0.0xxx and a target of 0.0xxx.

Medium term Members ProTrade - We will consider a LONG position on a continuation down to the 0.0xxx - 0.0xxx with a stop just below 0.0xxx and a target of 0.0xxx.

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