The Price of Ethereum (ETH) Continues to Rise
The price of Ethereum (ETH) remains bullish as it reached highs of $2,715 and $2,858. Currently, Ether is trading at $2,922, and buyers are pushing for the psychological price of $3,000. Breaking above $2,900 would result in a new high of $3,000. However, if the price falls below the $2,700 support, buyers will lose control and selling pressure may increase.
Analysis of Ethereum’s Indicators
Ether’s price bars are above the moving average lines and continue to rise above the current support. The current price movement is slow due to Doji candlesticks. Additionally, there is a bullish crossover between the 21-day SMA and the 50-day SMA, which allows traders to place buy orders.
Technical Indicators
Key resistance levels for Ethereum are $2,600 and $2,800, while key support levels are $2,400 and $2,200.
What’s Next for Ethereum?
Ethereum’s uptrend has persisted despite early resistance at $2,869. The altcoin has recovered quickly after falling back above the 21-day SMA on the 4-hour chart. It has resumed its upward movement and reached a high of $2,858 on February 15th.
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