The post Ethereum Price Analysis: ETH Extends Rally Toward $3,000 appeared on BitcoinEthereumNews.com.

Ethereum price is moving higher above the $2,750 resistance against the US Dollar. ETH price is now trading above $2,750 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $2,880 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the $2,750 support zone. Ethereum price is rising above the $2,800 level against the US Dollar. ETH/USD could rise further if it clears the $2,950 resistance zone. Ethereum Price Analysis In the past few sessions, Ethereum saw a decent increase above the $2,650 level against the US Dollar. ETH price was able to gain pace for a move above the $2,750 level and the 55 simple moving average (4 hours). The bulls even pushed the price above the $2,800 resistance zone. A high is formed near $2,985 and the price is now consolidating gains. It is trading above the $2,850 level. It is near above the 23.6% Fib retracement level of the upward wave from the $2,719 swing low to the $2,985 high. Ether price is showing positive signs above $2,850 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $2,880 on the 4-hour chart. Immediate resistance on the upside is near the $2,950 level. The next major resistance is near the $3,000 zone. A clear move above the $3,000 level could send the price toward $3,120. Any more gains could even send the price toward the $3,200 resistance zone or $3,250 in the near term. On the downside, initial support is near the $2,880 level. The next major support is now near the $2,850 level or 50% Fib retracement level of the upward wave from the $2,719 swing low to the…

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Filed under: News - @ February 20, 2024 3:26 am