Ethereum

Bitcoin

Resistance

Ethereum price is consolidating gains above $2,400. ETH could start a major increase if there is a clear move above the $2,460 resistance. 
<ul> 
 <li>Ethereum is consolidating gains below the $2,460 resistance zone.</li> 
 <li>The price is trading above $2,400 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a major bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a fresh increase if there is a close above the $2,460 and $2,480 levels.</li> 
</ul> 
<h2 id="ethereum-price-aims-higher">Ethereum Price Aims Higher</h2> 
Ethereum price saw a steady increase after it broke the $2,350 resistance. ETH climbed above $2,400 and tested the $2,460 zone. A high was formed near $2,463 and the price is now consolidating gains, while <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-climbs-to-46k/" target="_blank" rel="noopener ">Bitcoin</a> extended its increase above the $45,000 level. 
Ether is trading above the 23.6% Fib retracement level of the recent wave from the $2,352 swing low to the $2,463 high. There is also a <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-jumps-to-2450/" target="_blank" rel="noopener ">major bullish trend line</a> forming with support at $2,435 on the hourly chart of ETH/USD. 
Ethereum is now trading above $2,400 and the 100-hourly Simple Moving Average. If there is a fresh increase, the price could surge above the $2,460 level. On the upside, the first major resistance is near the $2,500 level. The next major resistance is near $2,550, above which the price might rise and test the $2,620 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-574124" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_6e9a59.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 push the price above the $2,620 resistance. In the stated case, the price could rise toward the $2,700 level. 
<h2 id="another-bearish-wave-in-eth">Another Bearish Wave In ETH?</h2> 
If Ethereum fails to clear the $2,460 resistance, it could start a downside correction. Initial support on the downside is near the $2,435 level and the trend line. 
The next key support could be the $2,400 zone or the 50% Fib retracement level of the recent wave from the $2,352 swing low to the $2,463 high. 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 – $2,400 
Major Resistance Level – $2,460

Ethereum Price Consolidates While Bitcoin Surges, Can ETH Follow BTC Later?

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