{"id":36160,"date":"2024-02-16T03:53:26","date_gmt":"2024-02-16T07:53:26","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36160"},"modified":"2024-02-16T03:53:26","modified_gmt":"2024-02-16T07:53:26","slug":"ethereum-price-signals-a-chance-for-bullish-streak-to-3k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/16\/ethereum-price-signals-a-chance-for-bullish-streak-to-3k\/","title":{"rendered":"Ethereum Price Signals A Chance For Bullish Streak To $3K"},"content":{"rendered":"

Ethereum price is showing bullish signs above the $2,720 support. ETH eyes more gains and might surge toward the $3,000 resistance zone.<\/em><\/p>\n

Ethereum is consolidating gains above the $2,780 support zone.
\nThe price is trading above $2,800 and the 100-hourly Simple Moving Average.
\nThere are two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up toward the $3,000 resistance zone.<\/p>\n

Ethereum Price Eyes More Gains<\/h2>\n

Ethereum price gained pace above the $2,750 pivot level. ETH bulls were able to pump the price above the $2,800 resistance zone<\/a>. It even spiked above $2,850 before the bears appeared.<\/p>\n

A new multi-week high was formed at $2,869 before there was a downside correction, like Bitcoin<\/a>. There was a minor move below the $2,850 level. Ether dipped below the 23.6% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high.<\/p>\n

The bulls are now active above the $2,800 level. Ethereum is now trading above $2,800 and the 100-hourly Simple Moving Average. There are also two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $2,880 level. The first major resistance is near the $2,920 level. The next major resistance is near $2,940, above which the price might rise and test the $3,000 resistance.<\/p>\n

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

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

If the bulls push the price above the $3,000 resistance, Ether could even rally toward the $3,120 resistance. In the stated case, the price could rise toward the $3,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,880 resistance, it could start a downside correction. Initial support on the downside is near the $2,825 level and the first trend line.<\/p>\n

The next key support could be the $2,780 zone or the second trend line. It is close to the 61.8% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high. A clear move below the $2,780 support might send the price toward $2,720. The main support could be $2,700 or the 100 hourly SMA. Any more losses might send the price toward the $2,600 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,780<\/p>\n

Major Resistance Level \u2013 $2,880<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is showing bullish signs above the $2,720 support. ETH eyes more gains and might surge toward the $3,000 resistance zone.<\/em><\/p>\n

Ethereum is consolidating gains above the $2,780 support zone.
\nThe price is trading above $2,800 and the 100-hourly Simple Moving Average.
\nThere are two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up toward the $3,000 resistance zone.<\/p>\n

Ethereum Price Eyes More Gains<\/h2>\n

Ethereum price gained pace above the $2,750 pivot level. ETH bulls were able to pump the price above the $2,800 resistance zone<\/a>. It even spiked above $2,850 before the bears appeared.<\/p>\n

A new multi-week high was formed at $2,869 before there was a downside correction, like Bitcoin<\/a>. There was a minor move below the $2,850 level. Ether dipped below the 23.6% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high.<\/p>\n

The bulls are now active above the $2,800 level. Ethereum is now trading above $2,800 and the 100-hourly Simple Moving Average. There are also two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $2,880 level. The first major resistance is near the $2,920 level. The next major resistance is near $2,940, above which the price might rise and test the $3,000 resistance.<\/p>\n

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

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

If the bulls push the price above the $3,000 resistance, Ether could even rally toward the $3,120 resistance. In the stated case, the price could rise toward the $3,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,880 resistance, it could start a downside correction. Initial support on the downside is near the $2,825 level and the first trend line.<\/p>\n

The next key support could be the $2,780 zone or the second trend line. It is close to the 61.8% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high. A clear move below the $2,780 support might send the price toward $2,720. The main support could be $2,700 or the 100 hourly SMA. Any more losses might send the price toward the $2,600 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,780<\/p>\n

Major Resistance Level \u2013 $2,880<\/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-36160","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\/36160","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=36160"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36160\/revisions"}],"predecessor-version":[{"id":36171,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36160\/revisions\/36171"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36160"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}