Ethereum Maintains Its Bullish Ascent as It Stays above $2,900

Ethereum (ETH) Current Statistics
The current price: $2,958.62
Market Capitalization: $355,543,899,063
Trading Volume: $11,365,606,857
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis February 23, 2024
Ethereum’s (ETH) price is trading flat but stays above $2,900. Buyers were unable to maintain the positive trend as sellers held their ground. The biggest altcoin has traded above the $2,900 support level but below the $3,000 peak during the last four days.

Today, the altcoin resumed its upward trend above the existing support. On the upside, if the present bullish momentum breaks above the recent high, Ether might reach $3,300. On the other hand, if the altcoin falls and breaks below the existing support, Ether will drop to a $2,700 low.

However, if buyers lose the $2,700 support and the 21-day SMA is breached, the present advance may stop. ETH/USD will fall much more, reaching its previous low of $2,400.

ETH Technical Indicators Reading
Ether’s price bars have continued to be above the moving average lines as the positive momentum ends at the current high. On the 4-hour chart, the price bars are positioned between the touching average lines. This will cause the altcoin to continue fluctuating within a range.

Conclusion
The present bullish momentum has been sustained as it stays above $2,900. On the 4-hour chart, the altcoin’s price ranges from $2,900 to $3,000. The crypto signal is optimistic since the price bars stay above the moving average lines. Once the present resistance level is breached, Ether will restart its bullish momentum.

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