{"id":36051,"date":"2024-02-13T04:53:11","date_gmt":"2024-02-13T08:53:11","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36051"},"modified":"2024-02-13T04:53:11","modified_gmt":"2024-02-13T08:53:11","slug":"ethereum-price-rallies-5-why-eth-bulls-could-aim-for-3k-this-month","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/13\/ethereum-price-rallies-5-why-eth-bulls-could-aim-for-3k-this-month\/","title":{"rendered":"Ethereum Price Rallies 5%, Why ETH Bulls Could Aim For $3K This Month"},"content":{"rendered":"

Ethereum price is up over 5% and there was a push toward $2,700. ETH is consolidating gains and might aim for a move toward $2,800 or $3,000.<\/em><\/p>\n

Ethereum is consolidating gains below the $2,700 resistance zone.
\nThe price is trading above $2,600 and the 100-hourly Simple Moving Average.
\nThere was a break above a bullish flag pattern with resistance at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $2,630 support zone.<\/p>\n

Ethereum Price Starts Fresh Surge<\/h2>\n

Ethereum price remained stable above the $2,420 resistance. ETH formed a base and started a fresh increase above the $2,500 resistance, outperforming Bitcoin<\/a>.<\/p>\n

There was a break above a bullish flag pattern with resistance at $2,500 on the hourly chart of ETH\/USD. The pair gained over 5% and there was a clear move above the $2,600 resistance. It even moved toward the $2,700 level. A high was formed near $2,681 and the price is now consolidating gains.<\/p>\n

There was a minor decline below the $2,660 level. Ethereum is still trading above the 23.6% Fib retracement level of the recent rally from the $2,472 swing low to the $2,681 high. It is also trading above $2,620 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

If there is a fresh increase, the price could surge above the $2,660 level. On the upside, the first major resistance is near the $2,680 level. The next major resistance is near $2,720, above which the price might rise and test the $2,800 resistance.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

If the bulls remain in action, they could even push the price above the $2,800 resistance. In the stated case, the price could rise toward the $3,000 level.<\/p>\n

Are Dips Limited In ETH?<\/h2>\n

If Ethereum fails to clear the $2,680 resistance, it could start a downside correction. Initial support on the downside is near the $2,630 level.<\/p>\n

The next key support could be the $2,600 zone. A clear move below the $2,600 support might send the price toward $2,575 or the 50% Fib retracement level of the recent rally from the $2,472 swing low to the $2,681 high. The main support could be $2,520 or the 100 hourly SMA. Any more losses might send the price toward the $2,400 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $2,630<\/p>\n

Major Resistance Level \u2013 $2,680<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is up over 5% and there was a push toward $2,700. ETH is consolidating gains and might aim for a move toward $2,800 or $3,000.<\/em><\/p>\n

Ethereum is consolidating gains below the $2,700 resistance zone.
\nThe price is trading above $2,600 and the 100-hourly Simple Moving Average.
\nThere was a break above a bullish flag pattern with resistance at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $2,630 support zone.<\/p>\n

Ethereum Price Starts Fresh Surge<\/h2>\n

Ethereum price remained stable above the $2,420 resistance. ETH formed a base and started a fresh increase above the $2,500 resistance, outperforming Bitcoin<\/a>.<\/p>\n

There was a break above a bullish flag pattern with resistance at $2,500 on the hourly chart of ETH\/USD. The pair gained over 5% and there was a clear move above the $2,600 resistance. It even moved toward the $2,700 level. A high was formed near $2,681 and the price is now consolidating gains.<\/p>\n

There was a minor decline below the $2,660 level. Ethereum is still trading above the 23.6% Fib retracement level of the recent rally from the $2,472 swing low to the $2,681 high. It is also trading above $2,620 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

If there is a fresh increase, the price could surge above the $2,660 level. On the upside, the first major resistance is near the $2,680 level. The next major resistance is near $2,720, above which the price might rise and test the $2,800 resistance.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

If the bulls remain in action, they could even push the price above the $2,800 resistance. In the stated case, the price could rise toward the $3,000 level.<\/p>\n

Are Dips Limited In ETH?<\/h2>\n

If Ethereum fails to clear the $2,680 resistance, it could start a downside correction. Initial support on the downside is near the $2,630 level.<\/p>\n

The next key support could be the $2,600 zone. A clear move below the $2,600 support might send the price toward $2,575 or the 50% Fib retracement level of the recent rally from the $2,472 swing low to the $2,681 high. The main support could be $2,520 or the 100 hourly SMA. Any more losses might send the price toward the $2,400 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n

Major Support Level \u2013 $2,630<\/p>\n

Major Resistance Level \u2013 $2,680<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36051","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36051"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36051\/revisions"}],"predecessor-version":[{"id":36058,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36051\/revisions\/36058"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36051"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}