Ethereum

Convergence

Spot

Ethereum Price Prediction: ETH, the leading alternative cryptocurrency, has witnessed a remarkable uptrend, breaking the $2,600 barrier with strong bullish momentum. In the last 24 hours, <a href="https://coingape.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> has surpassed this critical level and touched $2,650, marking a significant 5% increase. This growth comes amidst a broader market rally, with Ethereum showcasing solid performance within an ascending channel.
The trading volume for Ethereum has seen a dramatic increase, with a reported $22.32 million traded, marking a 222% spike. This uptick in activity has bolstered Ethereum’s market capitalization to $318 billion. Securing ETH’s position as the second-largest cryptocurrency with a 6% rise in the past day.
<figure id="attachment_180246" aria-describedby="caption-attachment-180246" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/02/Ethereum-price-prediction-e1707839477374.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-large wp-image-180246" src="https://coingape.com/wp-content/uploads/2024/02/Ethereum-price-prediction-1224x643.png" alt="Ethereum price prediction" width="1224" height="643"></a>
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 Ethereum price prediction
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After lingering below the $2,500 mark for a week, Ethereum’s price has successfully breached the $2,600 resistance. This hints at the potential for further advances. The past week’s 12% climb in Ethereum’s value points to significant buying pressure. This contrasts with Bitcoin’s spotlight moment as it hit a two-year high of $50,000.
<h2 id="strong-ethereum-price-prediction-a-critical-look-at-the-2-700-milestone-strong">Ethereum Price Prediction: A Critical Look at the $2,700 Milestone</h2>
The focus shifts towards the $2,700 level, a pivotal resistance point for Ethereum. Crypto analyst Tony emphasizes its importance, predicting that surpassing this threshold could catalyze Ethereum’s growth spurt. Currently flirting with this crucial resistance, Ethereum may be on the cusp of a significant breakout, perpetuating its upward trajectory.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a> are just getting started .. <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> to take out $2,700 then we pump
 — Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1757305353962959294?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 13, 2024</a>
</blockquote>
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If Ethereum navigates past its current confines, its channel’s upper resistance trend line, situated around $2,700, appears as the next target. With bullish momentum on its side, Ethereum could potentially escalate to $3,000 in the near term. Nonetheless, a dip below the wedge’s $2,400 support could trigger a descent to the channel’s lower boundary, around $2,200.
<h2 id="strong-ethereum-s-bullish-indicators-signal-market-confidence-strong">Ethereum’s Bullish Indicators Signal Market Confidence</h2>
The Relative Strength Index (RSI) is poised around the 69 mark, illustrating a market in equilibrium yet tilted towards overbought momentum soon. Ethereum’s ascent is further validated by its break above the 200-day moving average and its exit from a descending channel, as seen in the daily chart. 
<figure id="attachment_180243" aria-describedby="caption-attachment-180243" style="width: 100%" class="wp-caption aligncenter"><a href="https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25.png" rel="noopener noreferrer nofollow"><img decoding="async" class="size-full wp-image-180243" src="https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25.png" alt="Ethereum price prediction" width="1154" height="652" srcset="https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25.png 1154w, https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25-300x169.png 300w, https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25-768x434.png 768w, https://coingape.com/wp-content/uploads/2024/02/ETHUSD_2024-02-13_17-52-25-150x85.png 150w" sizes="(max-width: 1154px) 100vw, 1154px"></a>
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 Ethereum price chart: <a rel="noopener noreferrer nofollow" href="https://www.tradingview.com/x/a3n7tf4V/">Tradingview</a>
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The bullish outlook is also supported by the Moving Average Convergence Divergence (MACD) line’s crossover above the signal line, coupled with a growing histogram. The upward trend of the 20 Simple Moving Average (SMA) and the 50-day SMA’s advance over the 200-day MA reinforce the optimistic market sentiment. Moreover, the Chaikin Money Flow indicator’s position at 0.20 in the green zone bolsters the bullish perspective for Ethereum’s market outlook.
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The post <a href="https://coingape.com/markets/ethereum-price-prediction-eth-holds-above-2600-are-bulls-buying-in-anticipation-of-major-rally/" rel="noopener noreferrer nofollow">Ethereum Price Prediction: ETH Holds Above $2,600, Are Bulls Buying in Anticipation of Major Rally?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ethereum Price Prediction: ETH Holds Above $2,600, Are Bulls Buying in Anticipation of Major Rally?

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