Ethereum

Kevin

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-surges-past-3200-eyes-new-highs/" data-wpel-link="internal">Ethereum Surges Past $3,200, Eyes New Highs</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/unlu-ekonomist-bitcoin-yorumuyla-heyecanlandirdi-42-bin-dolar-icin-de-tarih-verdi" data-wpel-link="internal">Bitcoin</a> price</strong> has rebounded from the $55,000 threshold and had previously approached the $53,000 mark. These movements seem familiar. As <a href="https://coin-turk.com/analiz-firmasi-dususu-hice-saydi-95-000-dolar-hedefi-icin-tarih-verdi" data-wpel-link="internal">BTC</a> continues to reach higher peaks, <a href="https://coin-turk.com/shiba-inu-shiba-binance-usda-listelendi-shiba-fiyati-nasil-etkilendi" data-wpel-link="internal">altcoin</a> investors keep their focus on <a href="https://en.coin-turk.com/ethereum-ecosystem-shaken-by-the-emergence-of-erc-404-token-standard/" data-wpel-link="internal">Ethereum</a>, which has now surpassed $3,200. So, what’s next?</p> 
<h2 style="text-align: justify" id="ethereum-sets-new-all-time-high">Ethereum Sets New All-Time High</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/ethereum-exhibits-resilience-amid-market-fluctuations/" data-wpel-link="internal">ETH</a> price</strong> has soared by a full 38.5% in the last month, surpassing $3,100 for the first time since April 2022. Moreover, this could just be the beginning, as March brought Dencun news and May is expected to bring spot Ether ETF news. These two major developments have the potential to boost investor appetite in the coming days and weeks.</p> 
<p style="text-align: justify">On the other hand, Ethereum is on the verge of reaching a new all-time high (ATH). The size of open positions in futures has exceeded $10 billion, and it only needs a 10% increase to surpass the peak of November 2021. That peak resulted in a 55% price correction, and some investors worry history might repeat itself.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-319890 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ETH-OI.webp" alt="" width="1105" height="446"></p> 
<p style="text-align: justify">However, the current environment is very different from November 2021, as the trend is bullish, not bearish. Moreover, the excitement brought by spot ETH ETF and other news suggests that even higher peaks are possible.</p> 
<h2 style="text-align: justify" id="will-ethereum-price-continue-to-rise">Will Ethereum Price Continue to Rise?</h2> 
<p style="text-align: justify">JPMorgan analysts predict a 50% chance of ETF approval. CEOs like Keyrock’s Kevin de Patoul argue that the transition to Proof of Stake (PoS) has been a significant obstacle at the approval stage, as previously mentioned. They are not prophesying this, of course; the <a href="https://en.coin-turk.com/wall-street-wolves-revealing-bitcoin-predictions-crypto-currencies-2024-2025-comments/" data-wpel-link="internal">SEC</a>‘s public and expert comment requests also address potential risks associated with the PoS transition.</p> 
<p style="text-align: justify">Projects within the Ethereum ecosystem, such as EigenLayer, which raised $100 million led by Andreessen Horowitz (a16z), support the possibility of a price increase independent of ETF approval expectations. Numerous funds are financially supporting relatively new ventures in the Ethereum ecosystem.</p> 
<p style="text-align: justify">Looking at derivative data, we see that the spot price has reached a 14-month high with balanced entries, without abnormal demand. This suggests that new highs, possibly reaching a short-term target of $4,000, are not out of the question, supported by news flow.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-surges-past-3200-eyes-new-highs/" data-wpel-link="internal">Ethereum Surges Past $3,200, Eyes New Highs</a></h5>

Ethereum Surges Past $3,200, Eyes New Highs

Table of Contents

COINTURK NEWS

Other articles published on Feb 27, 2024

$4.6m Milestone Achieved by Bitcoin Dogs in Just 2 Weeks: What’s Next?

Bitcoin Clings to Highs as Altcoins Experience Notable Gains

Memecoin Mania! Pepecoin and Dogwifhat Soar as Bitcoin Breaks $57K

Top Altcoins to Invest for 4x, 25x, 50x and 100x Profits this Bull Run

Pixels Launches Exclusive Pet Capsules: A Game-Changer for Ronin Ecosystem

Ethereum Foundation Affirms Dencun Upgrade Mainnet Launch Timeline

Join our free newsletter for daily crypto updates!