Ethereum (ETH) shows continued upward momentum in market performance as it sells for $2,759.09 at this time and increased 0.99% within 24 hours.

ETH now holds $332.64 billion in market value and achieved $15.28 billion in daily trades with a 7.89% increase. Market participants show growing buying actions that traders monitor alongside the $2,800 resistance mark until February 22.

ETH proves its bullish market plan through steady increases in peak prices that keep pulling higher from past levels. Higher buying activity shows that ETH can keep rising when it stays above $2,750.

Ethereum Faces Resistance at $2,780

Ethereum shows robust buying forces around $2,730 support because this level consistently bounced back from downward movements. The technical market plan lists $2,670 as the significant support zone while $2,700 stands as the best risk level for investors.

Ethereum Continues Bullish Momentum, Eyes Key Resistance Levels

ETH struggles to cross above $2,780 because past run-ups at this level never succeeded. Ethereum needs to clear $2,800 before the next significant barrier stands at $2,850. ETH will pursue its upward trend to $2850 if it crosses $2.70 and continues into the available trading zone.

The Ethereum price charts reveal that investors may be changing their market attitude. The Relative Strength Index shows 48.19 which means the market holds a balanced position. The indicator shows minor increases in buying activities. More positive market sentiment will strengthen the existing bullish trading conditions.

Ethereum Continues Bullish Momentum, Eyes Key Resistance Levels

Ethereum’s Bearish Momentum Weakens

The MACD indicator shows signals that suggest the prices could rise soon. The MACD line stands at 32.90 while the signal line shows -97.18. The decreasing bearish sentiment for Ethereum is shown by a value of -130.08 on the histogram. Ethereum has a greater chance of rising when its MACD line moves above the signal line.

Most Ethereum market participants show positive expectations because traders continue to boost their derivatives market engagement. The Coinglass report shows derivatives market participants purchased more contracts 10.53% today bringing the total to $25.58 billion. At the same time open interest climbed 4.11% reaching $25.66 billion.

Trading options has gained popularity because options trading volumes grew by 2.44 percent to $653.94 million. The number of traders holding options for Ethereum shed by 6.54% to $6.59 billion as some participants cashed out their profits after the recent rally.

The Ethereum market performance and chart signals suggest an important transition period is coming up. ETH has a chance to start an upward market cycle when it holds its position and beats resistance barriers. A temporary price fluctuation tends to happen when ETH fails to maintain its essential support markings.

Influential investors continue to watch closely how Ethereum manages its present difficulties as they focus on its potential to reach above $2,800.