Ethereum Struggles below $3,200 Resistance Zone as Bulls Buy the Dips

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Ethereum faces resistance at $3,200 high
ETH/USD resumes uptrend

Ethereum ETH) Current Statistics
The current price: $3,178.61
Market Capitalization: $379,879,455,319
Trading Volume: $14,021,302,347
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis February 9, 2022
Ethereum’s (ETH) price has continued to surge ahead as bulls buy the dips. The bullish momentum broke the 21-day line moving average but failed to break the 50-day line moving average. The crypto’s price has also broken the resistance line of the ascending channel. The breaking of the resistance line and the closing above it indicate that the downtrend has been terminated. On the upside, Ether will rally to the next resistance at $3,800 if the bulls break above the 50-day SMA. The altcoin will be compelled to fluctuate between the moving average if the bulls failed to breach the recent high.

Ethereum Struggles below $3,200 Resistance Zone as Bulls Buy the Dips
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether has risen to level 60 of the Relative Strength Index for period 14. ETH/USD is in the uptrend zone and capable of a further upward move. The current uptrend is likely to continue as price breaks and closes above the resistance line. The crypto’s price is between the moving averages indicating a possible fluctuation of prices. Ether is above 50% range of the daily stochastic. The altcoin is in a bullish momentum.


Conclusion
ETH/USD is in a smooth uptrend as bulls buy the dips. The crypto’s price is making a series of higher highs and higher lows. The current uptrend is facing rejection at the $3,200 resistance zone. Ether’s price has retraced to the support above 21-day line moving average for a subsequent upward move.

Ethereum Struggles below $3,200 Resistance Zone as Bulls Buy the Dips
ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy Tokens



Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.