{"id":575924,"date":"2024-02-20T03:18:51","date_gmt":"2024-02-20T03:18:51","guid":{"rendered":"https:\/\/wncen.com\/?p=575924"},"modified":"2024-06-11T08:33:09","modified_gmt":"2024-06-11T08:33:09","slug":"ethereum-price-grinds-higher-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-grinds-higher-3k\/","title":{"rendered":"Ethereum Price Grinds Higher, Will ETH Bulls Be Able to Hit $3K Milestone?"},"content":{"rendered":"<p><em>Ethereum price is showing positive signs above the $2,850 support. ETH eyes more gains and might surge toward the $3,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum is slowly moving higher above the $2,800 support zone.<\/li>\n<li>The price is trading above $2,850 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bullish trend line forming with support at $2,910 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to move up toward the $3,000 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains Supported<\/h2>\n<p>Ethereum price remained well-bid and <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-momentum-to-3k\/\" target=\"_blank\" rel=\"noopener \">slowly moved higher<\/a> above the $2,850 level. ETH even cleared the $2,920 resistance zone and outperformed <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-consolidates-52500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>However, there was no test of the $3,000 resistance zone. A new multi-week high is formed near $2,984 and the price is now consolidating gains. Ether is stable near the 23.6% Fib retracement level of the recent wave from the $2,723 swing low to the $2,984 high.<\/p>\n<p>There is also a key bullish trend line forming with support at $2,910 on the hourly chart of ETH\/USD. Ethereum is now trading above $2,850 and the 100-hourly Simple Moving Average.<\/p>\n<p>Immediate resistance on the upside is near the $2,940 level. The first major resistance is near the $2,985 level. The next major resistance is near $3,000, above which the price might rise and test the $3,050 resistance zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-575925\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?resize=1024%2C461\" alt=\"Ethereum Price \" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Ethereum_647c97.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>If the bulls push the price above the $3,050 resistance, Ether could even rally toward the $3,120 resistance. In the stated case, the price could rise toward the $3,250 level in the near term. Any more gains might call for a test of $3,350.<\/p>\n<h2>Downside Correction In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,940 resistance, it could start a downside correction. Initial support on the downside is near the $2,910 level and the trend line zone.<\/p>\n<p>The next key support could be the $2,850 zone or 50% Fib retracement level of the recent wave from the $2,723 swing low to the $2,984 high. A clear move below the $2,850 support might send the price toward $2,840 or the 100-hourly Simple Moving Average. The main support could be $2,780. Any more losses might send the price toward the $2,720 level in the coming sessions.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,850<\/p>\n<p>Major Resistance Level \u2013 $2,940<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is showing positive signs above the $2,850 support. ETH eyes more gains and might surge toward the $3,000 resistance zone. Ethereum is slowly moving higher above the $2,800 support zone. The price is trading above $2,850 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,910 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move up toward the $3,000 resistance zone. Ethereum Price Remains Supported Ethereum price remained well-bid and slowly moved higher above the $2,850 level. ETH even cleared the $2,920 resistance zone and outperformed Bitcoin. However, there was no test of the $3,000 resistance zone. A new multi-week high is formed near $2,984 and the price is now consolidating gains. Ether is stable near the 23.6% Fib retracement level of the recent wave from the $2,723 swing low to the $2,984 high. There is also a key bullish trend line forming with support at $2,910 on the hourly chart of ETH\/USD. Ethereum is now trading above $2,850 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $2,940 level. The first major resistance is near the $2,985 level. The next major resistance is near $3,000, above which the price might rise and test the $3,050 resistance zone. Source: ETHUSD on TradingView.com If the bulls push the price above the $3,050 resistance, Ether could even rally toward the $3,120 resistance. In the stated case, the price could rise toward the $3,250 level in the near term. Any more gains might call for a test of $3,350. Downside Correction In ETH? If Ethereum fails to clear the $2,940 resistance, it could start a downside correction. Initial support on the downside is near the $2,910 level and the trend line zone. The next key support could be the $2,850 zone or 50% Fib retracement level of the recent wave from the $2,723 swing low to the $2,984 high. A clear move below the $2,850 support might send the price toward $2,840 or the 100-hourly Simple Moving Average. The main support could be $2,780. Any more losses might send the price toward the $2,720 level in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $2,850 Major Resistance Level \u2013 $2,940<\/p>\n","protected":false},"author":67,"featured_media":551696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-575924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Grinds Higher, Will ETH Bulls Be Able to Hit $3K Milestone?<\/title>\n<meta name=\"description\" content=\"Ethereum price is showing positive signs above the $2,850 support. 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