Ethereum

The price of Ethereum is holding steady above the $2,575 support level, indicating a period of consolidation. If Ethereum manages to break through the $2,700 resistance barrier, it could initiate a significant upward movement.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Cryptos-Headlines-Token-Airdrop-Is-Live-Claim-Your-Reward-Now-1.png?fit&#61;900%2C200&amp;ssl&#61;1" />Currently, Ethereum is trading above $2,620 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD, there’s a short-term breakout <a href="https://cryptosheadlines.com/cardano-ada-forms-pattern-that-could-spark-32-price-surge/" rel="noopener noreferrer nofollow">pattern forming</a>, with resistance around $2,640. For Ethereum to <a href="https://cryptosheadlines.com/next-weeks-altcoin-watchlist-loom-bnt-sol-for-potential-gains/" rel="noopener noreferrer nofollow">potentially see further gains</a>, it needs to maintain its position above the $2,575 support zone.<h3 id="ethereum-price-analysis-upside-momentum-and-key-levels">Ethereum Price Analysis: Upside Momentum and Key Levels</h3>Ethereum saw a surge above the $2,600 mark, nearing the crucial $2,700 resistance zone, with ETH hitting as high as $2,681 before encountering a downward correction.Following the upward move, Ethereum experienced a dip below $2,640 and $2,620 levels. This decline breached the 23.6% Fibonacci retracement level of the recent swing from the $2,472 low to the $2,681 high. However, support was found near the $2,600 area, where bullish activity emerged.Ethereum has found support at $2,600 and is now striving for another upward move. It is currently trading above $2,620 and the 100-hourly Simple Moving Average.Immediate resistance is anticipated around the $2,640 level, with a short-term breakout pattern forming on the hourly ETH/USD chart. The first significant resistance lies near $2,680, followed by a major hurdle at $2,720. Surpassing this level could pave the way for a test of the $2,800 resistance.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines002-20.webp?resize&#61;640%2C288&amp;ssl&#61;1" />Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" rel="noopener noreferrer nofollow">ETHUSD on TradingView.com</a><a href="https://cryptosheadlines.com/ryoshi-plans-to-introduce-governance-token-with-200-million-in-total-supply/" rel="noopener noreferrer nofollow">Also Read: Ryoshi Plans to Introduce Governance Token with 200 Million in Total Supply</a>Continued <a href="https://cryptosheadlines.com/xrp-price-down-8-bullish-momentum-stalls/" rel="noopener noreferrer nofollow">bullish momentum</a> may lead to Ethereum breaking above the $2,800 resistance. In such a scenario, the price could target the $3,000 level as its next significant milestone.<h3 id="ethereum-price-outlook-potential-decline-and-critical-support-levels">Ethereum Price Outlook: Potential Decline and Critical Support Levels</h3>If <a href="https://cryptosheadlines.com/cardano-surpasses-ethereum-in-recent-crypto-development-activity/" rel="noopener noreferrer nofollow">Ethereum encounters difficulty surpassing</a> the $2,640 resistance, there’s a possibility of a new downward trend. Initial support is expected around the $2,620 mark.The next crucial support level to monitor is around $2,600. A decisive drop below this could lead to further decline, potentially targeting $2,575 or the 50% Fibonacci retracement level of the <a href="https://cryptosheadlines.com/biggest-holder-of-shiba-inu-tokens-recently-moved-4-trillion-shib-tokens/" rel="noopener noreferrer nofollow">recent move</a> from the $2,472 low to the $2,681 high. The primary support zone stands at $2,550 or the 100 hourly Simple Moving Average (SMA). Extended losses might drive the price towards the $2,440 level.<h3 id="technical-indicators-and-momentum">Technical Indicators and Momentum</h3>The Hourly Moving Average Convergence Divergence (MACD) for ETH/USD indicates gaining bullish momentum. Additionally, the Hourly Relative Strength Index (RSI) is currently above the 50 level, <a href="https://cryptosheadlines.com/bitcoin-witnessing-third-week-of-outflows-suggesting-negative-market-sentiment/" rel="noopener noreferrer nofollow">suggesting positive market sentiment</a>.In summary, the major support level is identified at $2,600, while the primary resistance level is marked at $2,640. Monitoring these levels will provide insights into <a href="https://cryptosheadlines.com/binance-boosts-support-for-pepe-and-floki-potential-price-rally-ahead/" rel="noopener noreferrer nofollow">potential price</a> movements in the near term.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice

Ethereum: Close Above $2700 May Trigger Bigger Rally

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 14, 2024

Alert on Fake DeFi App Mimicking Curve in Apple’s App Store

SEC Chair Gary Gensler Comments on Ethereum ETFs

Shiba Inu’s Big Jump: Whales Make Interesting Moves

Bitcoin Price Hits New High as ETF Activity Intensifies

Terra Luna Classic L1TF Forks Osmosis Test Tube for Astroport Fixes & Upcoming Upgrades

INJ Climbs Over 1,000%, AVAX Spikes Above $40, Traders Eye Everlodge (ELDG) Following Listing

Join our free newsletter for daily crypto updates!