{"id":36305,"date":"2024-02-21T04:53:07","date_gmt":"2024-02-21T08:53:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36305"},"modified":"2024-02-21T04:53:07","modified_gmt":"2024-02-21T08:53:07","slug":"ethereum-price-hits-3k-but-the-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/21\/ethereum-price-hits-3k-but-the-bulls-are-not-done-yet\/","title":{"rendered":"Ethereum Price Hits $3K But The Bulls Are Not Done Yet"},"content":{"rendered":"

Ethereum price climbed further higher and broke the $3,000 resistance. ETH is still showing positive signs and might extend gains toward $3,120.<\/em><\/p>\n

Ethereum extended its rally above the $2,980 and $3,000 levels.
\nThe price is trading above $3,000 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up toward the $3,120 resistance zone.<\/p>\n

Ethereum Price Extends Rally<\/h2>\n

Ethereum price formed a base above the $2,850 level and started another increase. ETH cleared the $2,920 resistance zone and outperformed Bitcoin<\/a>. Finally, the price climbed above the $3,000 barrier<\/a>.<\/p>\n

A new multi-week high is formed near $3,032 and the price is now consolidating gains. Ether is stable near the 23.6% Fib retracement level of the recent increase from the $2,876 swing low to the $3,032 high. There is also a key bullish trend line forming with support at $2,950 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $3,000 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,040 level. The first major resistance is near the $3,065 level. The next major resistance is near $3,120, above which the price might rise and test the $3,220 resistance zone.<\/p>\n

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

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

If there is a move above the $3,220 resistance, Ether could even rally toward the $3,350 resistance. Any more gains might call for a test of $3,500.<\/p>\n

Downside Correction In ETH?<\/h2>\n

If Ethereum fails to clear the $3,040 resistance, it could start a downside correction. Initial support on the downside is near the $2,995 level.<\/p>\n

The first major support is near the $2,950 level and the trend line zone. It is close to the 50% Fib retracement level of the recent increase from the $2,876 swing low to the $3,032 high. The next key support could be the $2,910 zone. A clear move below the $2,910 support might send the price toward $2,880 or the 100-hourly Simple Moving Average. The main support could be $2,850. Any more losses might send the price toward the $2,720 level in the coming sessions.<\/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 $2,950<\/p>\n

Major Resistance Level \u2013 $3,040<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price climbed further higher and broke the $3,000 resistance. ETH is still showing positive signs and might extend gains toward $3,120.<\/em><\/p>\n

Ethereum extended its rally above the $2,980 and $3,000 levels.
\nThe price is trading above $3,000 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $2,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move up toward the $3,120 resistance zone.<\/p>\n

Ethereum Price Extends Rally<\/h2>\n

Ethereum price formed a base above the $2,850 level and started another increase. ETH cleared the $2,920 resistance zone and outperformed Bitcoin<\/a>. Finally, the price climbed above the $3,000 barrier<\/a>.<\/p>\n

A new multi-week high is formed near $3,032 and the price is now consolidating gains. Ether is stable near the 23.6% Fib retracement level of the recent increase from the $2,876 swing low to the $3,032 high. There is also a key bullish trend line forming with support at $2,950 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading above $3,000 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,040 level. The first major resistance is near the $3,065 level. The next major resistance is near $3,120, above which the price might rise and test the $3,220 resistance zone.<\/p>\n

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

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

If there is a move above the $3,220 resistance, Ether could even rally toward the $3,350 resistance. Any more gains might call for a test of $3,500.<\/p>\n

Downside Correction In ETH?<\/h2>\n

If Ethereum fails to clear the $3,040 resistance, it could start a downside correction. Initial support on the downside is near the $2,995 level.<\/p>\n

The first major support is near the $2,950 level and the trend line zone. It is close to the 50% Fib retracement level of the recent increase from the $2,876 swing low to the $3,032 high. The next key support could be the $2,910 zone. A clear move below the $2,910 support might send the price toward $2,880 or the 100-hourly Simple Moving Average. The main support could be $2,850. Any more losses might send the price toward the $2,720 level in the coming sessions.<\/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 $2,950<\/p>\n

Major Resistance Level \u2013 $3,040<\/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-36305","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\/36305","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=36305"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36305\/revisions"}],"predecessor-version":[{"id":36312,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36305\/revisions\/36312"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36305"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}