Ethereum

Bitcoin

Resistance

Gains

Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level. 
<ul> 
 <li>Ethereum is gaining bullish momentum above the $2,380 zone.</li> 
 <li>The price is trading above $2,350 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair might correct lower, but the bulls could be active near the $2,400 support zone.</li> 
</ul> 
<h2 id="ethereum-price-gains-strength">Ethereum Price Gains Strength</h2> 
Ethereum price remained strong above the $2,250 level. ETH started another increase like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surges-44k/" target="_blank" rel="noopener ">Bitcoin</a> and was able to clear a few key hurdles near the $2,350 zone. 
The price jumped above the $2,400 level and tested the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-big-move-2500/" target="_blank" rel="noopener ">$2,450 resistance</a>. A high is formed near $2,449 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high. 
Ethereum is also trading above $2,350 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the recent surge from the $2,353 swing low to the $2,449 high. 
On the upside, the first major resistance is near the $2,450 level. The next major resistance is near $2,500, above which the price might rise and test the $2,550 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-573905" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_0d9571.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
If the bulls remain in action, they could even pump the price above the $2,620 resistance. In the stated case, the price could rise toward the $2,700 level. 
<h2 id="are-dips-limited-in-eth">Are Dips Limited In ETH?</h2> 
If Ethereum fails to clear the $2,450 resistance, it could start a downside correction. Initial support on the downside is near the $2,425 level. 
The next key support could be the $2,400 zone or the trend line. A clear move below the $2,400 support might send the price toward $2,375. The main support could be $2,350. Any more losses might send the price toward the $2,240 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $2,375 
Major Resistance Level – $2,450

Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market

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