World Crypto Global
- Written by: Publisher
- Thu, 08 Feb 2024
- United States
Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market 08 Fevereiro 2024 – 01:35AM NEWSBTC Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level. Ethereum is gaining bullish momentum above the $2,380 zone. The price is trading above $2,350 and...
Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market
Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market
Ethereum price gained traction and climbed above $2,400. ETH is now
showing bullish signs and might extend gains toward the $2,550
level. Ethereum is gaining bullish momentum above the $2,380 zone.
The price is trading above $2,350 and the 100-hourly Simple Moving
Average. There is a key bullish trend line forming with support at
$2,400 on the hourly chart of ETH/USD (data feed via Kraken). The
pair might correct lower, but the bulls could be active near the
$2,400 support zone. Ethereum Price Gains Strength Ethereum price
remained strong above the $2,250 level. ETH started another
increase like Bitcoin and was able to clear a few key hurdles near
the $2,350 zone. The price jumped above the $2,400 level and tested
the $2,450 resistance. A high is formed near $2,449 and the price
is now consolidating gains. It is trading above the 23.6% Fib
retracement level of the recent surge from the $2,353 swing low to
the $2,449 high. Ethereum is also trading above $2,350 and the
100-hourly Simple Moving Average. Besides, there is a key bullish
trend line forming with support at $2,400 on the hourly chart of
ETH/USD. The trend line is close to the 50% Fib retracement level
of the recent surge from the $2,353 swing low to the $2,449 high.
On the upside, the first major resistance is near the $2,450 level.
The next major resistance is near $2,500, above which the price
might rise and test the $2,550 resistance. Source: ETHUSD on
TradingView.com If the bulls remain in action, they could even pump
the price above the $2,620 resistance. In the stated case, the
price could rise toward the $2,700 level. Are Dips Limited In ETH?
If Ethereum fails to clear the $2,450 resistance, it could start a
downside correction. Initial support on the downside is near the
$2,425 level. The next key support could be the $2,400 zone or the
trend line. A clear move below the $2,400 support might send the
price toward $2,375. The main support could be $2,350. Any more
losses might send the price toward the $2,240 level. Technical
Indicators Hourly MACD The MACD for ETH/USD is losing momentum in
the bullish zone. Hourly RSI The RSI for ETH/USD is now above the
50 level. Major Support Level $2,375 Major Resistance Level
$2,450
