FX.co ★ Ichimoku cloud indicator analysis on Ethereum for March 7, 2022.

Ethereum remains in a bearish trend. Recently Ethereum price entered the Ichimoku cloud turning trend to neutral from bearish. Ethereum bulls tried to push price higher above $3,000 but price got rejected at the Ichimoku cloud resistance.

As can be seen in the Daily chart above, bulls tried to penetrate the Kumo (cloud) but they got rejected. Price is below the cloud, thus trend remains bearish. Resistance is now found at $2,770 and $2,845. This is the first resistance bulls need to overcome. Breaking above the cloud (above $3,140) would be a bullish sign.