Ethereum reclaims $3K: Are ETH bulls ready for an uptrend?

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Ethereum price analysis for Feb 15, 2022, confirms that the token now aims to form an uptrend with around a 6% price surge in the last 24 hours. On the other hand, the ETH token has clearly outperformed Bitcoin in the last 24 hours, as seen in the Bitcoin price analysis for Feb 15, 2022. The token made a second bullish candle on the daily chart. 

The data from CoinMarketCap shows that the trading volume of the token rose 35.42% in the last 24 hours, followed by a 5.58% surge in the market cap. Moreover, it is also important to note that the Market Dominance of the token rests at 18.59%, while the Volume / Market Cap Ratio stands at 0.03621. 

The daily candle for the token opened at a price of $2929 and reached a daily high of $3037. It is also to be noted that the daily low for the token stands at $2912. The price of the token stands at $3027 at the time of writing.

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Ethereum price analysis on the daily chart

Ethereum price analysis on the daily chart confirms that the RSI for the world’s second-biggest cryptocurrency has broken out from the middle zone and now reads 52.7.

Ethereum price analysis

Source: TradingView

The MACD indicator on the chart below shows that the MACD line continues to progress above the signal line (orange) while the MACD histogram remains bullish.

Ethereum price analysis

Source: TradingView

The Bollinger Bands retested the middle zone of the Bollinger Bands and is now once again making a move towards the upper end of the Bands.

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Ethereum price analysis

Source: TradingView

Conclusion

Ethereum price analysis for Feb 15, 2022, can be confirmed on a bullish note as the token now once again makes a move towards $3.3K resistance. The token fell below $2.9K, as seen in our ETH price analysis for Feb 14, 2022. Those who bought the dip might’ve made some decent profit in the last 24 hours. The nearest support for the token rests at $2.8K, which remains unbroken.

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