Ethereum

Bitcoin

April

when

Spot

<ul>
 <li><strong>At the time of writing, ETH is trading at $2747, up 2.43% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go past $2920 level, then it will likely test $3093 resistance level.</strong></li>
</ul>
<p>With a price increase that has surpassed $51,000, <a href="https://thenewscrypto.com/why-is-bitcoin-btc-pumping/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> has reached its highest level since November 2021. Moreover, for the first time in more than two years, the market capitalization of Bitcoin has surpassed the sought-after $1 trillion barrier.</p>
<p>At the same time, Ethereum has shown remarkable resilience by breaking beyond $2,700, a mark not reached since May 2022. Bitcoin and <a href="https://thenewscrypto.com/bitcoin-and-ethereum-bulls-lead-the-rally-should-buy-or-sell/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> prices have recently surged, and analysts are trying to figure out why.&nbsp;</p>
<h3 class="wp-block-heading" id="h-factors-affecting-price-surge">Factors Affecting Price Surge</h3>
<p>Huge investments into Spot Bitcoin ETFs have stoked market confidence, which the experts say has driven most cryptocurrencies’ price increase. The biggest single-day entry since these Bitcoin ETFs’ introduction last month was on February 13th, when inflows reached $631 million.</p>
<p>Speculators seem to be keeping a watch on the April Bitcoin Halving, which has a history of setting off large price surges. This event aims to decrease the rate of Bitcoin’s supply, which might cause a new boom in Bitcoin’s worth and, as a result, boost Ethereum’s price.</p>
<p>A staggering 11,999 ETH, worth over $31,846,205, was moved from Binance to an unknown wallet, as reported by Whale Alert in a tweet. Many have speculated that “whales” may be accumulating additional Ethereum anticipating further surge.</p>
<p>At the time of writing, ETH is trading at $2747, up 2.43% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 5.87%.&nbsp;Amid the recent bull run the price is up 16.47% in the last 7 days.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/02/ETH_7D_graph_coinmarketcap-3.png" alt="" class="wp-image-91590" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/ETH_7D_graph_coinmarketcap-3.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/02/ETH_7D_graph_coinmarketcap-3-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go past $2920 level, then it will likely climb further to test $3093 resistance level. Consequently, if the price manages to go below $2604 level, then it will likely test $2506 support level.</p>

Ethereum Breaks Above $2,700 as Bullish Sentiment Prevails

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TheNewsCrypto

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