Ethereum

<p><em><strong>The price of Ethereum has climbed to $3,700, riding the wave of Bitcoin’s recent surge. With this momentum, Ethereum could potentially rally further, targeting the $4,000 mark in the near future.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>Ethereum (ETH), the second-largest cryptocurrency by market capitalization, saw a significant uptick, hitting $3,700, marking a 5% increase in just 24 hours. This surge mirrors Bitcoin’s recent climb to $68,000 and hints at a <a href="https://cryptosheadlines.com/us-cpi-inflation-at-3-2-potential-rally-for-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">potential Ethereum rally</a> toward the $4,000 resistance level.</p><h3 id="ethereum-price-analysis-surge-continues-eyes-on-4-000-resistance">Ethereum Price Analysis: Surge Continues, Eyes on $4,000 Resistance</h3><p>The price of Ethereum (ETH) has experienced a significant upward movement, surpassing the $3,700 level and reaching a new multi-month high at $3,715. Currently, the <a href="https://cryptosheadlines.com/solanas-sol-price-gains-momentum-indicating-a-surge-to-38/" rel="noopener noreferrer nofollow">price is consolidating gains</a> and holding above the 23.6% Fibonacci retracement level from the recent swing low of $3,465 to the high of $3,715.</p><p>Ethereum is trading above the $3,650 mark, currently sitting at $3,695, and is also above the 100-hourly Simple Moving Average (SMA). An ascending <a href="https://cryptosheadlines.com/xrps-monthly-pennant-confirms-bullish-trend-targets-2/" rel="noopener noreferrer nofollow">bullish trend</a> line is forming on the hourly chart of ETH/USD, indicating strong support around $3,600. This trend line coincides closely with the 50% Fibonacci retracement level, <a href="https://cryptosheadlines.com/former-executive-provides-support-to-lawsuit-against-celebrity-promoters-of-ftx/" rel="noopener noreferrer nofollow">providing additional support</a>.</p><p>Immediate resistance is seen near $3,720, followed by a more significant barrier around $3,780. Further resistance lies at approximately $3,850, and a successful breach above this level could trigger <a href="https://cryptosheadlines.com/solana-sol-signals-25-price-action-with-bullish-momentum/" rel="noopener noreferrer nofollow">bullish momentum</a>, potentially leading Ethereum towards the $3,920 level.</p><p>If <a href="https://cryptosheadlines.com/shiba-inu-surpasses-ethereum-and-dogecoin-in-u-s-popularity/" rel="noopener noreferrer nofollow">Ethereum manages to surpass</a> the $3,920 resistance, it could see further upward movement towards the $4,000 level, with potential gains extending to $4,200. However, failure to break above $3,720 may <a href="https://cryptosheadlines.com/shiba-inu-shib-price-correction-leads-to-whale-exodus/" rel="noopener noreferrer nofollow">lead to a downside correction</a>, with initial support expected around $3,650.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>With Ethereum’s price consolidating above key support levels and eyeing further upside potential, investors are closely monitoring its movement towards the $4,000 resistance level. However, caution is advised, as a failure to breach key resistance levels could result in a downside correction.</p><p><a href="https://cryptosheadlines.com/gemini-full-crypto-asset-recovery-for-earn-users-post-genesis-settlement/" rel="noopener noreferrer nofollow">Also Read:   Gemini: Full Crypto Asset Recovery for Earn Users Post Genesis Settlement</a></p><h3 id="ethereum-s-rising-value-factors-driving-positive-market-sentiment">Ethereum’s Rising Value: Factors Driving Positive Market Sentiment</h3><p>Market observers attribute Ethereum’s continuous price increase to several factors, including optimism surrounding the potential approval of spot Ethereum exchange-traded funds (ETFs). Additionally, increasing funding rates and rising buying pressure in the United States, particularly on the Coinbase exchange, have contributed to the bullish sentiment surrounding the cryptocurrency.</p><p>Grayscale Investments highlights the upcoming Ethereum upgrade, known as the Dencun upgrade, as a significant catalyst for the rise in Ethereum’s value. This upgrade is expected to improve throughput and reduce the cost of certain transactions on the <a href="https://cryptosheadlines.com/ethereum-network-briefly-halted-block-finalization/" rel="noopener noreferrer nofollow">Ethereum network</a>. Furthermore, factors such as “net deflationary supply” and “network revenue generation” are also cited as contributing to the positive sentiment surrounding Ethereum.</p><p><a href="https://cryptosheadlines.com/cardano-surpasses-ethereum-in-recent-crypto-development-activity/" rel="noopener noreferrer nofollow">Ethereum’s market capitalization has recently surpassed</a> $449 billion, positioning it at 24th among global companies and major assets. This milestone exceeds the market value of companies like Mastercard ($444.6 billion) in the global mainstream asset market, highlighting Ethereum’s increasing popularity as an asset.</p><p>Ethereum’s recent performance reflects positive market dynamics driven by various factors, indicating the network’s growing popularity among global assets. As Ethereum continues to evolve and attract attention from <a href="https://cryptosheadlines.com/coinbase-introduces-crypto-lending-for-us-institutional-investors/" rel="noopener noreferrer nofollow">investors and institutions</a>, its value and relevance in the cryptocurrency and broader financial markets are expected to further increase.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Ethereum Surpasses $3700; Aims for $4000 Amid Bitcoin Surge

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