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2 March 2024
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Ethereum

Ethereum Technical Analysis: ETH/USD eying up $250 again with a lot of bullish momentum

  • ETH/USD climbed above $240 and it’s looking for more.
  • The bullish momentum is robust and has taken Ethereum price above both daily EMAs.

Ethereum price is finally above the daily 12-EMA and the 26-EMA which have remained bullish for the past two weeks. Ethereum is currently experiencing a strong breakout to the upside. The lowest price was $235.81 with the peak being at $243.9.

ETH/USD daily chart

ETHUSD

A crucial bullish breakout puts Ethereum as the leader again and the most likely coin to see a breakout of its 2020-high. The next resistance level to beat is established at $245.34 followed by $248.98 and of course all the $250 area and above. 

ETH/USD 4-hour 

ethusd

The uptrend on the 4-hour chart is really healthy although bulls are expecting to see a small pullback before the next leg up.

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