{"id":36477,"date":"2024-02-27T04:53:00","date_gmt":"2024-02-27T08:53:00","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=36477"},"modified":"2024-02-27T04:53:00","modified_gmt":"2024-02-27T08:53:00","slug":"ethereum-price-rally-stalls-as-bitcoin-pumps-but-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/27\/ethereum-price-rally-stalls-as-bitcoin-pumps-but-bulls-are-not-done-yet\/","title":{"rendered":"Ethereum Price Rally Stalls As Bitcoin Pumps But Bulls Are Not Done Yet"},"content":{"rendered":"

Ethereum price climbed to a new multi-month high above $3,200. ETH is consolidating while Bitcoin is gaining pace above the $55,000 resistance.<\/em><\/p>\n

Ethereum extended its increase above the $3,200 resistance zone.
\nThe price is trading above $3,175 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $3,150 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its increase toward $3,320 or even $3,450 in the near term.<\/p>\n

Ethereum Price Underperforms Bitcoin<\/h2>\n

Ethereum price remained in a positive zone<\/a> and extended its increase above the $3,050 resistance. ETH climbed above the $3,200 resistance, but upsides were contained after Bitcoin<\/a> surged above $55,000.<\/p>\n

Ether even spiked above $3,250. A new multi-week high is formed near $3,274 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $3,041 swing low to the $3,274 high.<\/p>\n

There is also a key bullish trend line forming with support at $3,150 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,041 swing low to the $3,274 high.<\/p>\n

Ethereum is now trading above $3,175 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,250 level. The first major resistance is near the $3,275 level. The next major resistance is near $3,320, above which the price might gain bullish momentum.<\/p>\n

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

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

If there is a move above the $3,400 resistance, Ether could even rally toward the $3,450 resistance. Any more gains might call for a test of $3,500.<\/p>\n

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

If Ethereum fails to clear the $3,250 resistance, it could start a downside correction. Initial support on the downside is near the $3,200 level.<\/p>\n

The first major support is near the $3,150 zone and the trend line, below which Ether might test $3,130. The next key support could be the $3,100 zone. A clear move below the $3,100 support might send the price toward $3,050 or the 100-hourly Simple Moving Average. Any more losses might send the price toward the $2,880 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 $3,150<\/p>\n

Major Resistance Level \u2013 $3,250<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price climbed to a new multi-month high above $3,200. ETH is consolidating while Bitcoin is gaining pace above the $55,000 resistance.<\/em><\/p>\n

Ethereum extended its increase above the $3,200 resistance zone.
\nThe price is trading above $3,175 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $3,150 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its increase toward $3,320 or even $3,450 in the near term.<\/p>\n

Ethereum Price Underperforms Bitcoin<\/h2>\n

Ethereum price remained in a positive zone<\/a> and extended its increase above the $3,050 resistance. ETH climbed above the $3,200 resistance, but upsides were contained after Bitcoin<\/a> surged above $55,000.<\/p>\n

Ether even spiked above $3,250. A new multi-week high is formed near $3,274 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $3,041 swing low to the $3,274 high.<\/p>\n

There is also a key bullish trend line forming with support at $3,150 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,041 swing low to the $3,274 high.<\/p>\n

Ethereum is now trading above $3,175 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,250 level. The first major resistance is near the $3,275 level. The next major resistance is near $3,320, above which the price might gain bullish momentum.<\/p>\n

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

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

If there is a move above the $3,400 resistance, Ether could even rally toward the $3,450 resistance. Any more gains might call for a test of $3,500.<\/p>\n

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

If Ethereum fails to clear the $3,250 resistance, it could start a downside correction. Initial support on the downside is near the $3,200 level.<\/p>\n

The first major support is near the $3,150 zone and the trend line, below which Ether might test $3,130. The next key support could be the $3,100 zone. A clear move below the $3,100 support might send the price toward $3,050 or the 100-hourly Simple Moving Average. Any more losses might send the price toward the $2,880 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 $3,150<\/p>\n

Major Resistance Level \u2013 $3,250<\/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-36477","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\/36477","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=36477"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36477\/revisions"}],"predecessor-version":[{"id":36487,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36477\/revisions\/36487"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}