Ethereum (ETHUSD) Price to Continue Its Bullish Trend

Ethereum (ETHUSD) Price Forecast: February 24

The ETHUSD price will most likely continue its bullish trend and could still go higher above its current 4-hourly bullish candle at $2,798.04. A further increase in the bulls’ pressure may break up at the $3,429.15 peak level, pushing the crypto price to the $3,500 upper high level, resulting in a good buy for coin traders.

Key Levels:
Resistance Levels: $2,700.00 $2,800.00, $2,900.00
Support Levels: $2,100.00, $2,000.00, $1,999.00

ETH (USD) Long-term Trend: Bullish (4H Chart)

ETHUSD pair may continue its bullish trend as it remains above the resistance level, ascending towards the overhead in its higher time frames.

The prices are trading above the supply trend levels, indicating a bullish trend. However, the recent market has favored the bulls.

The coin’s last session by the bulls at the $2,784.99 high level has enabled the price to remain above the supply levels in its recent high.

The coin trading above the moving averages at the $2,798.04 resistance level above the moving averages as the daily chart opens today, indicates a more bullish impact in the market.

Ethereum is trading in a “Rising Channel” making higher highs and higher lows, showing bullishness, and attracting more buyers to influence the price.

Further, the price might continue its bullish trend, as shown by the daily stochastic, pointing upward.

Thus, if the ETHUSD price can break above the $3,429.15 supply value, we can expect the bullish rally to hit the $3,500 upper resistance level soon in its long-term outlook.

ETH (USD) Short-term Trend: Bullish (1H Chart)

On the medium-term outlook, the ETHUSD pair also remains in an uptrend and may continue its bullish rally. Firstly, the cryptocurrency has broken above the moving averages, indicating a possible rise of the pair.
The bulls increase their pressure and move the market price of the Ethereum up to a $2,798.04 high level as the 1-hourly chart opens today, as the bulls anticipate continuing the bullish trend.

In addition, the daily stochastic indicates an upward trend, suggesting the bullish rally may continue and the target might be the $3,500 upper resistance level in the coming days in its short-term forecast.

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