Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»Will Ethereum (ETH) price reach $3,000 in February?
TRADING NEWS

Will Ethereum (ETH) price reach $3,000 in February?

By Crypto FlexsFebruary 6, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will Ethereum (ETH) price reach ,000 in February?
Share
Facebook Twitter LinkedIn Pinterest Email

The price of Ethereum (ETH) has continued to decline since hitting a high of $2,720 on January 12. The downward trend lasted for 11 days.

ETH has been trading within a horizontal range for the past 61 days. Will it explode or collapse?

Ethereum fails to clear resistance

Technical analysis on weekly time frames shows that ETH has increased since June 2022. During this period, three higher lows (green icons) were created, with each subsequent acceleration of the increase.

Ethereum price growth peaked in January 2024 at a high of $2,720. The high exceeded the 0.382 Fib retracement resistance level and horizontal resistance area.

However, ETH subsequently fell below that area, creating a deviation from its previous move. ETH is still trading below this resistance area.

ETH/USD daily chart. Source: TradingView

The weekly relative strength index (RSI) is trending downward. Market traders use RSI as a momentum indicator to identify overbought or oversold conditions and decide whether to accumulate or sell assets.

Readings above 50 and an upward trend indicate that bulls still have the advantage, while readings below 50 indicate the opposite. Even though it is above 50, RSI is falling. It also created a bearish divergence (red) before the decline, which often precedes a downward move.

Read more: What is Wrapped Ethereum (WETH)?

What are analysts saying?

Cryptocurrency analysts and traders at X are uncertain about the future trend of ETH.

CryptoMichNL suggests that ETH will rise to $3,000 as long as the price stays above $2,150.

Ethereum (ETH) price change
ETH/USDT daily chart. source: X

That person believes it too. ETH Will Surpass Bitcoin (BTC) Due to the Dencun upgrade:

The Dencun upgrade will be live on the final testnet in the coming days. It is most likely to have a positive impact on the Ethereum price, but we would like to see a reversal of 0.06 or a clearing of the low for confirmation.

XForceGlobal uses Elliott Wave Theory for analysis. But he Future trends suggest there are still two possible counts.One is bullish and the other is bearish.

Crypto God Zone It suggests that the price will initially fall but then bounce back..

Read more: How to Buy Ethereum (ETH)

ETH Price Prediction: What is the Range?

The daily time frame outlook provides similarly indeterminate trends due to price movements and RSI readings.

Price action shows that ETH has been trading between $2,200 and $2,370 over the past 61 days. It is currently nearing the top of the range, which coincides with the 0.382 Fib retracement resistance level.

However, although RSI is increasing, it is still below 50 (red circle), which is likely a resistance level.

Therefore, whether ETH breaks out of a range or collapses will determine the future ETH price prediction.

Ethereum (ETH) price change
ETH/USDT daily chart. Source: TradingView

A successful ETH breakout could trigger a 16% increase to the next resistance at $2,700, while a breakout of the $2,200 support area could trigger a 17% decline to the next support at $1,950.

In the case of BeInCrypto‘Click here for the latest cryptocurrency market analysis.

disclaimer

In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025

Ripple Stablecoin RLUSD gets a green line to use in Dubai Difc.

June 4, 2025

The world’s best cloud platform: BCC Mining can easily earn $ 77,000 a day.

June 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Can BNB break the new top score? Two elements suggest a strong rise.

June 5, 2025

Self -correction AI Work Floro Trade Capture Improvements

June 5, 2025

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025

Stablecoin issuer raises the IPO to more than $ 1 billion

June 5, 2025

Audio control improvement: Elevenlabs SP1 Soundboard Connection to MIDI controller

June 5, 2025

Cardi B’s WAP is moisturized again, and the top on chain detective

June 5, 2025

Nvidia

June 4, 2025

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Can BNB break the new top score? Two elements suggest a strong rise.

June 5, 2025

Self -correction AI Work Floro Trade Capture Improvements

June 5, 2025

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025
Most Popular

Uniswap vs SEC, Cardano faces declining stress Investors believe Raboo will explode after launch.

May 20, 2024

Bitcoin prices drop to less than $ 85,000.

March 28, 2025

Altcoin Future Trading New Frontier: Gate.io Ecosystem Innovation.

March 17, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.