FX.co ★ Ichimoku cloud indicator analysis on Ethereum for February 24, 2022.

Ethereum is trading around $2,350. Short-term trend according to the Ichimoku cloud indicator remains bearish as price continues to trade below the Daily Kumo (cloud). Price got rejected once again at cloud resistance when bulls attempted to break inside the cloud.

Price is under pressure again today after the tension in Ukraine. Traders flee towards the Dollar against most cryptocurrencies. Ethereum is not the exception. Resistance by the Kumo (cloud) is at $2,715 and as long as price is below that level, trend will remain bearish. The tenkan-sen (Red line indicator) and the kijun-sen (yellow line indicator) are also above price at $2,750-$2,790. Bears remain in control of the trend.