Analysis: Ethereum technical indicator is on the edge of the 'death cross' pattern.

robot
Abstract generation in progress

BlockBeats news, on February 25th, according to CoinDesk, the price of Ethereum (ETH) fell more than 5% on Tuesday to $2,375, with its 50-day Simple Moving Average (SMA) likely to drop below the 200-day SMA, confirming the so-called 'death cross.' This pattern indicates that short-term momentum is about to fall below the long-term average level, potentially evolving into a significant bearish trend. Although the indicator's track record in predicting price trends is mixed, it often prompts momentum traders to chase downward trends in the market. Other major tokens are also under pressure, with the trading prices of BNB, SOL, DOGE, and LINK, among others, below the 200-day moving average, similar to ETH. The 200-day moving average is widely considered a barometer of long-term trends, and breaking below this average is associated with bearish sentiment. BTC, XRP, TRON, ADA, and XLM are hovering above their 200-day SMA.

ETH-2.48%
BNB-4.51%
SOL-3.08%
DOGE-2.6%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)