Ethereum turned massively bullish in February, following an uptrend in the previous months, as cryptocurrencies kept pushing higher. The newly acquired status of safe havens has made them quite attractive at a time of high uncertainty and excessive cash programmes from central banks and governments all over the world.

ETHEREUM surged to $ 2,040 last month, but in the last week of February we saw a brutal retreat in the crypto market. Ethereum retreated lower as well and the 20 SMA (gray) turned into resistance on the H4 chart, as the price fell to $ 1,300.

But, the decline stopped and ETHEREUM was trying to turn bullish again last week. Although, gains were slow which showed reluctance from buyers last week. But moving averages turned into support as the price climbed higher, with the 100 SMA doing so yesterday, which shows that buyer are back in charge and the bullish trend is back on. We are already long on Ethereum with a buy signal which we opened about two weeks ago. That trade is in profit now, but we are holding on to it, since the bullish momentum is on again now.