Ethereum Price Climbs Toward $3,200 And Bulls Are Just Getting Started
26 Febbraio 2024 - 5:29AM
NEWSBTC
Ethereum price is outperforming Bitcoin with a move above $3,000.
ETH is showing bullish signs and might soon climb above the $3,200
resistance. Ethereum started a fresh increase above the $3,000
resistance zone. The price is trading above $3,050 and the
100-hourly Simple Moving Average. There is a key bullish trend line
forming with support at $3,080 on the hourly chart of ETH/USD (data
feed via Kraken). The pair could extend its increase toward $3,200
or even $3,250 in the near term. Ethereum Price Outperforms Bitcoin
Ethereum price remained stable above the $2,880 support zone. ETH
formed a base and started a fresh increase above the $3,000
resistance. It gained nearly 5% and outperformed Bitcoin. A new
multi-week high is formed near $3,121 and the price is now
consolidating gains. It is trading above the 23.6% Fib retracement
level of the upward wave from the $2,907 swing low to the $3,121
high. There is also a key bullish trend line forming with support
at $3,080 on the hourly chart of ETH/USD. Ethereum is now trading
above $3,085 and the 100-hourly Simple Moving Average. Immediate
resistance on the upside is near the $3,120 level. The first major
resistance is near the $3,150 level. Source: ETHUSD on
TradingView.com The next major resistance is near $3,200, above
which the price might gain bullish momentum. If there is a move
above the $3,200 resistance, Ether could even rally toward the
$3,280 resistance. Any more gains might call for a test of $3,320.
Are Dips Supported In ETH? If Ethereum fails to clear the $3,120
resistance, it could start a downside correction. Initial support
on the downside is near the $3,080 level and the trend line. The
first major support is near the $3,000 zone. It is close to the 50%
Fib retracement level of the upward wave from the $2,907 swing low
to the $3,121 high, below which Ether might test the 100-hourly
Simple Moving Average. The next key support could be the $2,960
zone. A clear move below the $2,960 support might send the price
toward $2,920. Any more losses might send the price toward the
$2,860 level. Technical Indicators Hourly MACD – The MACD for
ETH/USD is losing momentum in the bullish zone. Hourly RSI – The
RSI for ETH/USD is now above the 50 level. Major Support Level –
$3,000 Major Resistance Level – $3,120
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