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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-surpasses-4000-milestone-2/" data-wpel-link="internal">Ethereum Surpasses $4,000 Milestone</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/teknik-analiz-ethereum-eth-4-000-dolarda-guclu-duruyor-bu-seviyeler-gorulebilir" data-wpel-link="internal">Ethereum</a></strong> has surpassed an important milestone, reaching its highest price level since the end of December 2021, at $4,012. This significant increase is recorded just before the long-awaited Merge upgrade to Proof-of-Stake (PoS) within the altcoin community. The development has created great excitement and anticipation among <a href="https://en.coin-turk.com/whale-activity-shifts-from-bitcoin-to-ethereum/" data-wpel-link="internal">Ethereum</a> owners.</p> 
<h2 style="text-align: justify" id="ethereum-breaks-through-4-000">Ethereum Breaks Through $4,000!</h2> 
<p style="text-align: justify">With Ethereum surpassing the $4,000 mark on major cryptocurrency exchanges like <a href="https://en.coin-turk.com/ftx-executives-reportedly-helping-to-establish-a-new-crypto-exchange-in-dubai/" data-wpel-link="internal">Coinbase</a> and <a href="https://en.coin-turk.com/nobody-expected-this-the-expected-signal-for-bitcoin-and-altcoins-came-from-binance-ceo-cz/" data-wpel-link="internal">Binance</a>, there has been significant activity in the altcoin market. This return above the levels seen since the end of 2021 indicates Ethereum’s strong performance.</p> 
<p style="text-align: justify">Ethereum’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) occurred during a significant developmental milestone known as the Merge. The next important step is the introduction of proto-danksharding with EIP-4844, part of the upcoming Dencun Hard Fork scheduled for March 13. This development is seen as a crucial step towards making Ethereum a more scalable and efficient Blockchain.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325258 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/eth-coin-turk-com-.png" alt="" width="942" height="494"></p> 
<p style="text-align: justify">Data shows that approximately half a billion dollars worth of Ether has been burned in the last thirty days. This contributes to a reduction in Ethereum’s circulating supply and lessens the selling pressure on the platform, which is considered a positive development for ETH holders.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-say-about-eth">What Do Technical Indicators Say About ETH?</h2> 
<p style="text-align: justify">It seems that Ethereum is boosting its prices by drawing support from recent rallies in the altcoin market. In particular, a target of $5,000, close to the peak level of $4,936 seen in December 2021, is becoming apparent. Technical indicators, such as the moving average convergence/divergence (MACD) and Awesome Oscillator (AO), support Ethereum’s upward trend and suggest the altcoin could climb even higher.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325259 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/eth-coin-turk-com-1-1.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">However, if prices fall below the 38.2% Fibonacci retracement level with a daily candlestick close at $3,307, this bullish thesis could be invalidated. In that case, a pullback to around the psychologically significant support level of $3,000 could be expected.</p> 
<h2 style="text-align: justify" id="spot-ethereum-etf-remains-a-hot-topic">Spot Ethereum ETF Remains a Hot Topic</h2> 
<p style="text-align: justify">Another significant issue is whether Ethereum will be classified as a security or a non-security asset. As attorney Jake Chervinsky points out, it seems unlikely that the SEC will classify Ethereum as a security, as this could conflict with the jurisdiction of the Commodity Futures Trading Commission (CFTC). However, the CFTC’s definition of Ethereum as a commodity could reduce the risk of conflict between the two agencies.</p> 
<p style="text-align: justify">A key outcome of this situation is whether the SEC will approve a Spot Ethereum ETF in May. The approval of a Spot Ethereum ETF could be a major catalyst for Ethereum owners and increase institutional capital inflow. In this case, Ethereum’s position as the second-largest asset by market value could be further strengthened with the ETF’s approval.</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-surpasses-4000-milestone-2/" data-wpel-link="internal">Ethereum Surpasses $4,000 Milestone</a></h5>

Ethereum Surpasses $4,000 Milestone

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