Ethereum

2024

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One technical analyst sees little room for an Ethereum correction and a greater upside for Ether toward the $3,000 level.&nbsp; 
Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) may be en route to higher prices in the short-to-mid term as crypto’s largest altcoin boasts favorable tokenomics and has seemingly marshaled support above a key level, according to trader Ali Charts.&nbsp; 
<blockquote class="wp-block-quote"> 
 The path ahead of ETH is clear, with no significant supply barriers in sight, suggesting a potential rise to $2,700 or beyond. Additionally, a robust demand wall at $2,000 provides solid support, potentially cushioning any corrections. <cite><a href="https://twitter.com/ali_charts/status/1741814848982327779" target="_blank" rel="noreferrer noopener">Ali Charts</a></cite>
</blockquote> 
Nearly two million wallets accumulated almost 40 million ETH between $1,900 and $2,020 price ranges, forming a formidable wall against massive market dumps. 
Ethereum is also scheduled for notable technological upgrades like <a href="https://crypto.news/ethereums-dencun-upgrade-eip-7514-and-its-impact-on-eth-price/">EIP-7514</a> and EIP-4844, also referred to as proto-danksharding, which is geared towards enabling more transactions for cheaper gas fees.&nbsp; Both EIPs are included in Dencun and could roll out before the end of the first quarter of 2024 as crypto.news <a href="https://crypto.news/ethereum-devs-eye-january-for-dencun-testing/">reported</a>. 
 You might also like: <a href="https://crypto.news/vitalik-buterin-reveals-six-focuses-ethereum-2024/"> Vitalik Buterin reveals 6 main focuses for Ethereum in 2024 </a> 
Applications for spot ETH ETFs from firms like <a href="https://crypto.news/blackrock-applies-for-spot-ethereum-etf/" target="_blank" rel="noreferrer noopener">BlackRock</a>, Fidelity, Galaxy, Grayscale, and Invescco could also act as catalysts for progressing Ethereum price movements. Much like its Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) counterpart, ETH ETFs are touted to channel considerable capital toward the top altcoin in cryptocurrency markets.&nbsp; 
Experts at America’s biggest bank, JPMorgan Chase, believe Ethereum could <a href="https://crypto.news/jpmorgan-bitcoin-etfs-impact-ethereum-surprise-skeptics/" target="_blank" rel="noreferrer noopener">outperform</a> Bitcoin in the crypto and ETF markets.&nbsp; 
The two leading digital currencies saw massive growth in 2023, recording gains of over 90% as the broader cryptocurrency market transitioned toward bullish sentiment. While BTC increased by around 158%, ETH gained 93% per TradingView data. 
 Read more: <a href="https://crypto.news/ethereum-etf-becomes-most-attractive-prospect-poll-shows/"> Ethereum ETF becomes most attractive prospect, poll shows </a>

Analyst says Ethereum on clear path to $2,700

crypto.news

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