Ethereum Price Primed To Hit $3.5K After Bitcoin Rallies Past $60K

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	394,038,188,576	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

394,038,188,576

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	6.46	0.20%	3,282.15	3,282.16	3,282.17

Price Change

Price Change %

Current Price

Bid Price

Offer

6.46

0.20%

3,282.15

3,282.16

3,282.17

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,284.64	3,242.86	3,268.77	3,275.69	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,284.64

3,242.86

3,268.77

3,275.69

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	13:02:30	0.005608	3,282.68	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

13:02:30

0.005608

3,282.68

USD

Price x Volume	Volume	Base Symbol	Related Pairs
48,877,306.28	14,981.87	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

48,877,306.28

14,981.87

Ethereum Price Primed To Hit $3.5K After Bitcoin Rallies Past $60K

28/02/2024 2:29pm

NEWSBTC

Ethereum price climbed to a new multi-month high above $3,300. ETH is consolidating while Bitcoin is gaining pace above the $60,000 resistance. Ethereum extended its increase above the $3,300 resistance zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its increase toward $3,420 or even $3,500 in the near term. Ethereum Price Underperforms Bitcoin Ethereum price started another steady increase from the $3,150 support zone. ETH cleared the $3,220 and $3,250 resistance levels to move further into a positive zone. However, Bitcoin performed better and rallied significantly above the $58,000 resistance. It surged over 10% and even cleared the $60,000 level. Ether also managed to pump above $3,300. A new multi-week high is formed near $3,368 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward wave from the $3,206 swing low to the $3,368 high. There is also a connecting bullish trend line forming with support at $3,320 on the hourly chart of ETH/USD. Ethereum is now trading above $3,250 and the 100-hourly Simple Moving Average. Immediate resistance on the upside is near the $3,365 level. The first major resistance is near the $3,420 level. The next major resistance is near $3,450, above which the price might gain bullish momentum. Source: ETHUSD on TradingView.com If there is a move above the $3,500 resistance, Ether could even rally toward the $3,650 resistance. Any more gains might call for a test of $3,800. Downside Correction In ETH? If Ethereum fails to clear the $3,365 resistance, it could start a downside correction. Initial support on the downside is near the $3,320 level. The first major support is near the $3,280 zone and the 61.8% Fib retracement level of the upward wave from the $3,206 swing low to the $3,368 high. The next key support could be the $3,160 zone. A clear move below the $3,160 support might send the price toward $3,120. Any more losses might send the price toward the $3,050 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 – $3,265 Major Resistance Level – $3,365

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