Ethereum Maintains Its Surge as It Approaches the $2,600 Hurdle

Ethereum (ETH) Current Statistics
The current price: $2,525.59
Market Capitalization: $304,015,186,971
Trading Volume: $7,262,011,531
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis February 11, 2024
Ethereum’s (ETH) price is above the moving average lines as it approaches the $2,600 hurdle. The largest altcoin has recovered positive momentum and is anticipated to surpass recent highs. On the January 30 upswing, a retraced candle body tested the 38.2% Fibonacci retracement line.

The retracement indicates that ETH will rise to level 2.618 Fibonacci extensions, or $2,733.21. Based on price movement, the market has reached a high of $2,526.24 at the time of writing. Meanwhile, the altcoin is trying to break above the $2,600 resistance zone.

ETH Technical Indicators Reading
The price bars are significantly higher than the moving average lines, indicating continued upward movement of the cryptocurrency. On the 4-hour chart, the moving average lines are sloping upward as Ether regains bullish momentum.

The 21-day SMA is providing support as Ether regains bullish momentum.

Conclusion
Ethereum’s price has resumed upward momentum as it approaches the $2,600 hurdle. Currently, it is trading below the $2,600 resistance zone but above the $2,500 support. According to the price indication, the crypto signal will continue to be bullish as it crosses the hurdle of $2,600.

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