It is currently inching higher above USD 40,500 and is up 3% in a day, and down less than 1% in a week.
ETH was able to surpass USD 2,950 and is testing the USD 3,000 resistance level.
The next major resistance on the upside might be USD 41,200, above which the price may perhaps rally to USD 42,000.
If there is a downside correction, the price might test the USD 40,000 level.
Ethereum price also followed bitcoin and gained pace above the USD 2,920 resistance.
On the downside, an initial support is near the USD 2,975 level.
Many altcoins are up over 4%, including LUNA, SHIB, NEAR, FTT, APE, XMR, EGLD, THETA, RUNE, FTM, AAVE, and FLOW.
Overall, bitcoin price is showing positive signs above the USD 40,000 level.