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The post <a href="https://coinpedia.org/price-analysis/with-hours-left-for-the-dencun-upgrade-will-ethereum-price-hit-5k/" rel="noopener noreferrer nofollow">With Hours Left For The Dencun Upgrade, Will Ethereum Price Hit $5K?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the Bitcoin price reaching an all-time high of $73,000, the upcoming Dencun upgrade is great news for Ethereum HODLers. Further, with 106.26m Ethereum holding addresses “In The Money,” 95.34% of HODLers are profitable.&nbsp;
Amidst the rising interest in the altcoins and Dencun Upgrade hyping up the Ethereum chain, the bulls are preparing for a new sprint. With just hours left for the upgrade, let’s have a look at the ETH price chart and a close cousin of Ethereum for a bullish entry spot.&nbsp;
<h2 class="wp-block-heading" id="h-will-eth-price-cross-5-000">Will ETH Price Cross $5,000?</h2>
With a rounding bullish reversal in the weekly chart, the ETH price stands as one of the top performers amongst the large-cap coins. Continuing a streak of bullish candle formation, the seventh candle is under formation.&nbsp;&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-1024x509.png" alt="" class="wp-image-277954" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140330/image-105.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/VbM8WDlJ/" rel="noopener noreferrer nofollow">Tradingview</a>
With the Ethereum price rising 81% in the last seven weeks, the demand is increasing with just hours left for the Dencun. Crossing above the $4,000 mark, the biggest altcoin is above the 78.60% Fib level and aims to challenge the peak at $4,868.&nbsp;
Hence, as per the Fibonacci levels and the growing demand, the ETH price could shortly reach the $5,000 mark. Further, as per the Fib levels, the $5,000 breakout can set a bull run to the $6,835 mark.&nbsp;
<h2 class="wp-block-heading" id="h-will-ethereum-classic-surge-with-dencun">Will Ethereum Classic Surge With Dencun?</h2>
As Ethereum’s price surpasses the $4,000 mark, the close cousin Ethereum Classic shows a strong bullish trend. With a bullish reversal rally taking off in the weekly chart with a trendline breakout, the ETC price concludes the downtrend.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-1024x509.png" alt="" class="wp-image-277955" srcset="https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/03/13140333/image-106.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source: <a href="https://www.tradingview.com/x/3VA3OlfX/" rel="noopener noreferrer nofollow">Tradingview</a>
As per the ETC price chart, the altcoin is up by 61% in the last six weeks with a retest of a range breakout. Currently, the ETC price trend challenges the 23.60% Fibonacci level and trades at $37.41.
Hence, with the ongoing bull run, the Ethereum Classic shows underlying potential to cross the $50 mark with Dencun around the corner.&nbsp;

With Hours Left For The Dencun Upgrade, Will Ethereum Price Hit $5K?

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