Ethereum

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-charges-through-resistance-as-market-watches-key-price-points" rel="noopener noreferrer nofollow">Ethereum Charges Through Resistance as Market Watches Key Price Points</a><br></p>
<p style="text-align: justify">The cryptocurrency market saw notable activity on February 14th, with <a href="https://en.bitcoinhaber.net/galaxy-digitals-mike-novogratz-cites-us-debt-concerns-as-bitcoin-support" rel="noopener noreferrer nofollow">Bitcoin</a> breaking past the $52,000 barrier, trading at $51,540. Simultaneously, Ethereum has been in the spotlight due to the anticipation surrounding spot Ethereum ETF applications, which could impact its price trajectory in the near term.</p>
<h2 id="ethereum-s-technical-outlook">Ethereum’s Technical Outlook</h2>
<p style="text-align: justify">Ethereum’s daily chart reveals a positive trend with a pattern of higher lows and higher highs. The digital currency recently tested its support and is now climbing, having surpassed its Exponential Moving Average (EMA) on the 9-day chart. This ascent suggests a strengthening bullish sentiment.</p>
<p style="text-align: justify">Traders are monitoring support levels at $2702, $2635, and $2568. A daily close below $2635 could signal a loss of bullish momentum. Conversely, resistance levels at $2775, $2828, and $2891 are key to Ethereum’s potential growth; overtaking the $2775 mark could propel the currency to new heights.</p>
<h2 id="long-term-ethereum-market-dynamics">Long-Term Ethereum Market Dynamics</h2>
<p style="text-align: justify">On the weekly chart, Ethereum has been consistently following a rising channel since July 2022, with the price respecting the channel’s boundaries. A break or touch of the channel’s resistance could be crucial in determining Ethereum’s longer-term price direction.</p>
<p style="text-align: justify">Support levels to watch include $2616, $2405, and $2158. Closing the week below $2616 could indicate a bearish shift. In terms of resistance, levels at $2766, $3029, and $3283 are pivotal; closing above $2766 could confirm bullish strength for Ethereum’s market value.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-charges-through-resistance-as-market-watches-key-price-points" rel="noopener noreferrer nofollow">Ethereum Charges Through Resistance as Market Watches Key Price Points</a></h5>

Ethereum Charges Through Resistance as Market Watches Key Price Points

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