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?

Mục lục

TheNewsCrypto

Các bài viết khác được xuất bản trên 21 thg 2, 2024

Lagos is fighting with tech

Top Three Meme Coins to Buy and HODL in 2024: BONK, SHIB, and NUGX

Binance faces potential ban in the Philippines

Chainlink Whale Withdraws 194,400 Tokens As LINK Sees Volatility: Here’s How Much The Whale Made

Why Revenue Share Model Sets Pullix (PLX) Aside From Uniswap (UNI) and Binance (BNB)

Coinbase Hits $1 Billion in Trading Volume Outside US: Details

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!