FX.co ★ Ichimoku cloud indicator analysis on Ethereum for February 28, 2022.

During the weekend Ethereum price was pushed inside the Daily Kumo (cloud) but yesterday we saw exiting it again. Price reached the kijun-sen (yellow line indicator) resistance and got rejected. Bulls are trying again to push price inside Kumo.

The kijun-sen provides key short-term resistance at $2,793. Bulls need to close above this level in order to provide the first possible reversal signal. Entering the cloud will turn trend to neutral. Bulls want to push above the Kumo (cloud) at $3,150. Breaking above $2,793 will be the first step towards that direction.