Ethereum

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>The Ethereum coin price persists in skyrocketing gains and is resembling the bullish momentum.</a></li>
 <li><span>2</span> <a>A bounce from the 20-day EMA support mark lifted the ETH price above $3700 in the yesterday session.</a></li>
</ul>
<p>The second largest cryptocurrency, Ethereum (ETH), displayed a massive surge and persisted in stretching the up move since the start of February. Ethereum price has surged over 70% in the last 45 days, revealing a bullish tone. The price action delivers the follow-on buying action, and a rising parallel channel was noted on the charts. ETH coin is eyeing to reclaim the $4000 mark and will split anytime this month.</p>
<p>Ethereum coin price has retained the bullish trajectory and is trading at its 52-week high range close to the $4000 mark. The intense rally fueled by the mighty bulls gave a surprising move for the investors who have held it for a long. In the last 45 trading sessions, a 40% increase in open interest was noted, implying the long buildup and sharp investors’ attention. Per the Fib levels, the ETH coin price has exceeded the 61.8% zone and is preparing to jump above the $4000 mark.</p>
<p>The Ethereum coin (ETH) price was $3877.89&nbsp; at press time, with an intraday gain of 4.07%, showing bullishness on the charts. Moreover, the trading volume has increased by 61.90% to $46.11 Billion. The Ethereum price has a weekly return ratio of 19.66% and 69.44% on a monthly basis. The pair of ETH/BTC is at 0.0580 BTC, and the market cap is $473.56 Billion. Analysts are bullish and suggest that the Ethereum coin has reached the 52-week high range and will continue to skyrocket gains in the following sessions.</p>
<h2 class="wp-block-heading" id="strong-ethereum-eth-rides-on-a-bullish-track-next-stop-4500-strong"><strong>Ethereum (ETH) Rides on a Bullish Track, Next Stop $4500?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/jz-ks7lwtEfnBcrX9ZUFAinZnETl4KBycI5cyfo3CLaLfMPzXkxiC6UZmLiEpcoRPE_afN106Is0xpShortOfBDHcKv3O7ewmndCBV2G_HZ1RWe3OyJM9AQrswmN6bj1rbRIuyh0KjEm7qGv-7baux8" alt="">
  <figcaption class="wp-element-caption">
   Source: ETH Price Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>The chart displays a rising parallel channel, and higher high swings were portrayed for the past weeks. The trend is bullish, and buyers have continued to lift the ETH price, where the bears are looking trapped, which replicated a massive short-covering move. Additionally, the sentiments are positive, institutional buying cues were noted, and an enormous rise in volume was spotted on the charts.</p>
<p>The Relative Strength Index (RSI) curve floating near 80 depicts a bullish momentum, conveying the uptrend. Similarly, the MACD indicator shows a bullish crossover and represents the green bars on the histogram, signifying the outperformance.</p>
<h3 class="wp-block-heading" id="strong-ethereum-eth-displays-three-white-soldier-formation-on-weekly-charts-strong"><strong>Ethereum (ETH) Displays Three White Soldier Formation on Weekly Charts</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/_12a1AVnxaZQKJyS591Z9dauaJLBj37JbCN0r1IMrHaqyer3NSBd3lDXD9UR3ldTKhVa0FF1WIGyhgbjdPWInRgILPoMEsyP4yCcbsSk8AZjSdBbpyzVt7wf2qtk29vCXjNvnBHBRStHenXTmQZBBNg" alt="">
  <figcaption class="wp-element-caption">
   Source: ETH Price Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>A golden crossover was noted on the weekly charts, and the coin glimpsed a sharp rally of over 60% in the past three weeks. Additionally, three white soldier pattern were noted and huge bullish marubozu candlesticks stepped up the Ethereum price away from the sellers’ vision. The trend is intact, and buyers are aggressively making long positions, which may soon trigger the $4000 mark.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The <a href="https://www.thecoinrepublic.com/2024/02/22/bitcoin-btc-ethereum-eth-and-cardano-ada-price-forecast/" target="_blank" rel="noopener noreferrer nofollow">Ethereum (ETH) coin</a> witnessed a sharp spike and retained the 52-week high trajectory above $3000 in the past sessions. The trend is bullish, and the derivative market displayed a massive long buildup activity, which signifies investor interest.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $3500 and $3300</p>
<p><strong>Resistance Levels:</strong> $4000 and $4400</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Ethereum Price Prediction: Can ETH Bulls Cross $4000 This Week?

Table of Contents

Thecoinrepublic.com

Other articles published on Mar 6, 2024

Economist Claims Bitcoin Will Kill MicroStrategy Despite $6.7 Billion in Profits

Peter Schiff Targets Mark Cuban Again, Slams Shark For Picking Bitcoin Over Gold Amid Crypto Rall...

CFTC Chair urges congress to craft crypto regulatory laws

Revolutionizing Game Creation: Google DeepMind Unveils Genie

Decimated | Cross-Platform NFT Survival Game

Crypto News: Avalanche (AVAX) Pushes Toward $50, Solana (SOL) and KangaMoon (KANG) Prices Soar

Join our free newsletter for daily crypto updates!