Ethereum Oscillates after Reaching the $2,700 Resistance Mark

Ethereum (ETH) Current Statistics
The current price: $2,629.60
Market Capitalization: $316,004,263,938
Trading Volume: $16,538,573,784
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis February 14, 2024
Ethereum’s (ETH) price is fluctuating after reaching the $2,700 resistance mark. The bullish trend has halted at the $2,700 resistance level. Buyers have been unable to continue their bullish momentum above the $2,700 barrier area. In recent price activity, the market reached a high of $2,715 but was repelled.

The cryptocurrency’s price is oscillating below its resistance level. Ether is currently valued at $2,643. On the upside, the price might rise even further. If buyers break through the $2,700 resistance, Ethereum will surge to a high of $2,821.50.

The bullish momentum will continue to a high near $3,000. Conversely, if buyers fail to break through the current high, Ether will be forced to trade in a narrow range between $2,360 and $27,000.

ETH Technical Indicators Reading
The largest altcoin has rebounded to its earlier high of $2,715. The lengthy candlestick wick at the latest high suggests significant selling pressure. The price bars have held above the moving average lines following the recent price increase.

Conclusion
Ethereum’s price has ended its retracement after its rejection at the $2,700 resistance mark. The altcoin is expected to see price increases in the future as long as it stays above the moving average lines. The crypto signal remains positive as long as the price bars exceed the moving average lines.

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