Ethereum

Resistance

Gains

Ethereum price is showing bullish signs above the $2,720 support. ETH eyes more gains and might surge toward the $3,000 resistance zone. 
<ul> 
 <li>Ethereum is consolidating gains above the $2,780 support zone.</li> 
 <li>The price is trading above $2,800 and the 100-hourly Simple Moving Average.</li> 
 <li>There are two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could continue to move up toward the $3,000 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-eyes-more-gains">Ethereum Price Eyes More Gains</h2> 
Ethereum price gained pace above the $2,750 pivot level. ETH bulls were able to pump the price above the <a href="https://www.newsbtc.com/analysis/eth/ethereum-bulls-soon-test-3k/" target="_blank" rel="noopener ">$2,800 resistance zone</a>. It even spiked above $2,850 before the bears appeared. 
A new multi-week high was formed at $2,869 before there was a downside correction, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-hold-strong-52k/" target="_blank" rel="noopener ">Bitcoin</a>. There was a minor move below the $2,850 level. Ether dipped below the 23.6% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high. 
The bulls are now active above the $2,800 level. Ethereum is now trading above $2,800 and the 100-hourly Simple Moving Average. There are also two bullish trend lines forming with support at $2,825 and $2,780 on the hourly chart of ETH/USD. 
Immediate resistance is near the $2,880 level. The first major resistance is near the $2,920 level. The next major resistance is near $2,940, above which the price might rise and test the $3,000 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-575397" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Ethereum_fdb53a.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 push the price above the $3,000 resistance, Ether could even rally toward the $3,120 resistance. In the stated case, the price could rise toward the $3,250 level. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported In ETH?</h2> 
If Ethereum fails to clear the $2,880 resistance, it could start a downside correction. Initial support on the downside is near the $2,825 level and the first trend line. 
The next key support could be the $2,780 zone or the second trend line. It is close to the 61.8% Fib retracement level of the recent wave from the $2,728 swing low to the $2,869 high. A clear move below the $2,780 support might send the price toward $2,720. The main support could be $2,700 or the 100 hourly SMA. Any more losses might send the price toward the $2,600 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 level. 
Major Support Level – $2,780 
Major Resistance Level – $2,880

Ethereum Price Signals A Chance For Bullish Streak To $3K

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