Ethereum (ETH) is seeing further selling pressure, and the global cryptocurrency market is showing signs of weakness. Investors are looking at the intraday outlook for any buying opportunities.
At the time of writing, ETH is trading at $1,879.71, with a 24-hour trading volume of $24.86 billion and a market capitalization of $225.26 billion. ETH is reflecting a 5% decline over the last 24 hours, according to CoinMarketCap.
Ethereum Follows Bitcoin Market Moves
On February 23, 2026, as per the Ethereum Daily Technical Outlook published by Crypto Analyst CRYPTOWZRD, Ethereum is currently following the trend of Bitcoin, and the price of the ETH/BTC pair is stable despite the weakening Bitcoin Dominance (BTC.D). The analysts are analyzing the key supports for reversal.
Ethereum’s daily candle chart shows that there is indecision in the market, with slightly bearish signals, and ETH/BTC is trading within a neutral zone. Last week’s candle closed within a neutral zone, indicating that the market is still uncertain.
The decline can be attributed to the fact that there is a lot of panic selling in Bitcoin. According to CRYPTOWZRD, a strong move is expected in ETH/BTC, which will help ETH recover and test resistance levels at $2,120.
The chart for ETH has mixed signals, and the price is choppy. The $1,960 level could provide a catalyst for a short-term bounce. It is important to wait for clearer signals before entering positions.
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Technical Signals Point to Weak Momentum
The ETH trend still lacks strength. The Relative Strength Index (RSI) is 30.79, still near the oversold region. The asset’s average line is currently trading at 33.01, indicating that the sellers are in control.
The Moving Average confirms the downtrend, as Ethereum is currently trading below the 20 SMA ($1,998.68), 50 SMA ($2,591.41), 100 SMA ($2,799.37), and 200 SMA ($3,478.53).
The MACD is also in the negative region, with a value of -176.39 on the MACD line and -202.45 on the signal line. The histogram is also slightly positive at 26.05, but Ethereum still needs more buying force to change its trend.
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