As of February 27th, current market analysis places the price of ETH at $2338.18, reflecting a modest increase of $2.85, or approximately 0.12% since yesterday’s close. Throughout the trading day, ETH has experienced fluctuations, achieving a peak of $2370.36 and a trough of $2302.91. According to data from Coinglass, derivative metrics including ETH’s funding rate, liquidation scenarios, and the long/short ratio indicate a growing wave of selling pressure, suggesting an overwhelmingly bearish investor sentiment.
Market analysts at Bitunix highlight an uptick in market volatility coupled with rising trading volumes. They advise market participants to exercise caution and to be vigilant in watching market trends, rather than impulsively reacting to price surges or dips. Observing price reactions around critical support levels is deemed essential. Experts recommend adopting a patient stance, awaiting clearer signals for market entry as the broader market trend establishes itself.