Ethereum

Bitcoin

April

<ul>
 <li>Ethereum (ETH) has hit the $3,000 mark for the first time since April 2022, indicating a significant uptrend in its value.</li>
 <li>Ether outpaces Bitcoin with a 33% surge since the year’s start, surpassing Bitcoin’s 23% increase.</li>
</ul>
Ether (ETH), the native token of the Ethereum network, surged past the $3,000 mark on Tuesday, marking its <a href="https://thenewscrypto.com/galaxy-digital-snaps-up-76m-in-ethereum-amidst-recent-price-surge/" target="_blank" rel="noopener noreferrer nofollow">highest value</a> since April 2022. Over the past 24 hours, Ether’s price has risen by approximately 3.5%, reaching $3,033, and has displayed a significant 16% increase in the past week, outpacing other major cryptocurrencies, as per data from CoinMarketCap.
This notable upswing in ETH’s value has been triggered by <a href="https://thenewscrypto.com/ethereum-staking-value-reaches-110b-as-price-hits-multi-year-high/" target="_blank" rel="noopener noreferrer nofollow">two significant factors</a>: the potential approval of a spot Ethereum exchange-traded fund (ETF) and the imminent Dencun upgrade.&nbsp;
While the U.S. Securities and Exchange Commission (SEC) has sanctioned various spot Bitcoin ETFs, optimism surrounds the possibility of an Ethereum-based ETF approval. Further, the Dencun upgrade, slated for mid-March at slot 8626176, promises to bring significant enhancements to the Ethereum network. With features like proto-danksharding and fee reductions, it aims to boost network performance, reduce transaction fees, and improve interoperability within Ethereum’s ecosystem.
<h3 class="wp-block-heading" id="h-what-is-ethereum-eth-next-target">What is Ethereum (ETH) Next Target?</h3>
The broader cryptocurrency market has experienced a bullish trajectory in 2024, with major tokens surpassing their prolonged bearish price levels. Ether has surged by nearly 33% since the beginning of the year, outpacing Bitcoin’s 23% increase. Moreover, Ether is currently only 38% below its all-time high of $4,891, recorded on November 16, 2021.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="512" src="https://thenewscrypto.com/wp-content/uploads/2024/02/image-97-1024x512.png" alt="" class="wp-image-92042" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/image-97-1024x512.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-97-300x150.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-97-768x384.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/02/image-97.png 1301w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Ethereum (ETH) Price Chart (Source: <a href="https://in.tradingview.com/symbols/ETHUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
According to the daily price chart, if the current <a href="https://thenewscrypto.com/ethereum-eth-eyes-4000-as-bulls-target-fresh-highs/" target="_blank" rel="noopener noreferrer nofollow">bullish trend</a> persists, Ethereum’s rally could continue, with traders eyeing $3,500 as the next resistance level. A breakthrough beyond $3,500 could potentially trigger further momentum for Ethereum and set resistance at $4,000, possibly leading to a new all-time high.
However, in the event of a trend reversal, Ether is likely to find immediate support around $2,754. A breach of this support level could lead to <a href="https://thenewscrypto.com/ethereum-eth-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">further declines</a> in ETH’s price, undoubtedly reaching $2,487, which might signal a more bearish sentiment in the market.

Ethereum (ETH) Surpasses $3,000. A Step Closer to All-Time High?

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TheNewsCrypto

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