Ethereum (ETH)

Key points:

The higher timeframe swing structure indicated that ETH’s outlook remained bearish, despite short-term accumulation.

The supply zone at $2.8k-$3k would be a tough obstacle to overcome, and this battle would take time to resolve.

What you should know:

Ethereum maintained its bearish swing structure on the higher timeframes, and therefore swing traders should be cautious of bidding the leading altcoin. This is doubly true since the $2.8k-$3k is a tough resistance zone and also a key psychological level. The Awesome Oscillator showed slight bullish momentum on the 12-hour chart, but ETH has faced another rejection from the $2.8k resistance in recent hours. The A/D indicator showed that bulls have the upper hand due to rising accumulation in February. This could see a move beyond the local high at $2,878, but bulls must not hold high hopes in the near term.$ETH