Ethereum Hovers Above $2,900 as It Continues Its Bullish Surge

Ethereum (ETH) Current Statistics
The current price: $2,910.52
Market Capitalization: $349.98B
Trading Volume: $12.93B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis February 19, 2024
Ethereum’s (ETH) price breaks through the resistance levels of $2,715 and $2,800 as it continues its bullish surge. Today, Ether has reached a high of $2,909 at the time of writing. The largest altcoin is likely to exceed the $3,000 psychological price level.

On the upside, the altcoin is encountering initial resistance near the $2,930 high. If the current barrier is crossed, Ether will surge to the psychological price of $3,000.00. The largest altcoin has fluctuated both below and above the $2,900 support.

Buyers have yet to continue their bullish momentum above the $2,900 resistance. However, if the altcoin retraces and breaks the $28,000 level or the 21-day SMA, the present upswing would cease. Ether will fall above the 21-day SMA or the $2,720 support.

ETH Technical Indicators Reading
The biggest altcoin has recovered to $2,715, its previous peak. The last high’s long candlestick wick indicates strong selling pressure. After the latest price surge, the price bars have remained above the moving average lines.

Conclusion
The largest altcoin holds above the $2,900 support level as it continues its bullish surge. Currently, the upward trend is stalled at a high of $2,930. Ether is in a modest retracement. The present trend will resume if the $2,900 support level holds.

The crypto signal is optimistic, as the altcoin remains above the $2,900 support. Meanwhile, price activity has been dominated by Doji candlesticks.

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