Ethereum (ETH) Price Prediction for February 29

The situation remains bullish on the market, according to CoinMarketCap.

ETH/USD

The price of Ethereum (ETH) keeps rising, going up by 3.80%.

On the hourly chart, the rate of ETH has formed a local resistance level of $3,501. At the moment, one should pay attention to the daily closure. If it happens far from that mark, there is a chance to see a local correction to the $3,400 zone.

On the bigger time frame, the price of the leading altcoin has made a false breakout of yesterday’s peak at $3,487.

However, if the bar closes above it, the rise is likely to continue to the $3,600-$3,700 area soon.

From the midterm point of view, traders should pay attention to the nearest resistance level of $3,582. If the weekly candle closes with no long wick, the upward move may lead to the test of the vital zone of $4,000 next month.

Ethereum is trading at $3,479 at press time.

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