Analysis

Price Analysis February 27th: BTC, ETH, ATOM, ONE

BTC and ETH were both higher at the start of the weekend as the market appears to have unwound recent volatility. The crypto king immediately broke through $40,000 and ETH headed for $2,800. However, the price is slowly falling back as Bitcoin is currently in the $38,500 region and ETH is at $2,700.

Despite this, ATOM is among the bulls of the day, as the global crypto market cap is down 2.4% at press time.

BTC

On Saturday, the crypto market gained more than 3%, with BTC trading nearly 1% higher at the start of the weekend.

This move helped bitcoin break the key $40,000 level but could not last as profit-takers potentially closed their positions due to current market risk.

BTC/USD chart Daily | Source: TradingView

Looking at the chart, the 14-day RSI is floating above the long-term ceiling of 44 and approaching the 45 level.

BTC is currently trading below the recent resistance of $39,500 as the 10-day moving average (MA) momentum continues to wane.

However, if price strength holds above resistance, the bulls are likely to aim a bounce at $41,500.

ETH

ETH price was also higher at the start of the weekend, approaching the long-term resistance at $2,900. The altcoin rallied to a high of $2,835 on Saturday after hitting a low of $2,664 on Friday.

Similar to BTC, a sell-off occurred as the price neared resistance, possibly as profit takers liquidated their positions.

ETH/USD chart Daily | Source: TradingView

After the dip at the ceiling, ETH is currently trading around $2,740 with some targeting the $2,550 bottom.

The bearish momentum of the short-term 10-day MA (red) could be one of the key indicators leading some traders to predict a drop in ETH.

ATOM

ATOM is currently one of only two altcoins trading green in the top 20, up nearly 4% over the past 24 hours.

Saturday’s ATOM rally saw a quick break above the $29.1 resistance level, hitting an intraday high of $29.36.

The upward move came as the 14-day RSI surged to a 5-week high and currently stands at 52.09 after breaking above 50.4.

ATOM/USD chart Daily | Source: TradingView

Yesterday’s high came less than 24 hours after ATOM traded as low as $25.27 as the price rallied back to the $26.1 support.

Despite the recent descending triangle on this chart, price momentum is beginning to stabilize with MAs trending sideways.

Many see this as a sign of a long-term trend reversal, with some already targeting the $30 mark.

ONE

ONE is currently up almost 3% in 24 hours and up 20% yesterday. Altcoin price surged to a high of $0.1612 on Saturday but has slipped towards $0.15 at press time.

ONE traded as low as $0.1314 on Feb 25 as the price broke away from its long-term floor of $0.1249.

This level is near ONE’s lowest level since late September and then surged to the $0.165 resistance level.

ONE/USD chart Daily | Source: TradingView

The 14-day RSI is also currently at a 10-day high after breaking above the 41.7 resistance.

If this momentum continues in the current direction, many bulls are likely to aim for a breakout of $0.20.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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