Ethereum

Bitcoin

Arthur

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-climbs-towards-new-heights" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Climbs Towards New Heights</a><br></p>
<p style="text-align: justify">A significant technical chart formation suggests that Ethereum’s price is on the verge of hitting new all-time highs. The key question is whether Ethereum can secure the $4,000 level as a solid support during this upward movement. This past week has seen Ethereum’s price rise by more than 27%, converting critical resistance levels into support. Here are the noteworthy developments and expert insights.</p>
<h2 id="what-is-driving-ethereum-s-surge">What Is Driving Ethereum’s Surge?</h2>
<p style="text-align: justify">Following its recent price increase, Ethereum has broken out from a falling wedge chart pattern, a move that typically indicates a reversal from a downtrend. Crypto investor Jelle, in a May 27 post to his 83,000 followers, suggested that this breakout might propel Ethereum toward new all-time highs. “Ethereum broke out of the falling wedge, turned key areas into support, and is now pushing $4,000. New peaks and new all-time highs are next,” he commented.</p>
<p style="text-align: justify">The declining <a href="https://en.bitcoinhaber.net/bitcoin-climbs-past-64000-as-altcoin-market-eyes-recovery" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> dominance and the rising ETH/BTC pair over the last few days suggest that <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are shifting their focus to Ethereum. Bitcoin’s dominance has decreased by 0.98% in the past five days, while Ethereum’s has grown by 4.4%. According to TradingView, Ethereum’s dominance increased by 1.45% in the last 24 hours, whereas Bitcoin’s fell by 0.57%.</p>
<h2 id="which-price-predictions-are-gaining-attention">Which Price Predictions Are Gaining Attention?</h2>
<p style="text-align: justify">Ethereum’s recent price rally is largely attributed to the positive <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> surrounding the first spot Ethereum exchange-traded funds (ETFs). On May 20, Ethereum’s price skyrocketed nearly 20% in a single day after reports surfaced that the US SEC might have requested updates to the 19b-4 filings for spot Ethereum ETFs due to political pressure.</p>
<p style="text-align: justify">Arthur Cheong, founder and CEO of DeFiance Capital, believes Ethereum’s price could soar to $4,500 before these ETFs begin trading. In a May 26 post to his 167,000 followers, Cheong stated, “Ethereum’s price could reach $4,500 before spot ETF funds start trading.”</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">– Ethereum breaking out from the falling wedge suggests a potential trend reversal.<br> – Growing investor interest in Ethereum is reflected in rising ETH/BTC dominance.<br> – Positive developments around spot Ethereum ETFs are major catalysts for price increases.<br> – Ethereum faces psychological resistance at the $4,000 level, a critical point for further gains.</p>
<p style="text-align: justify">Despite the optimism, Ethereum encounters substantial resistance at the $4,000 psychological barrier. CoinGlass data indicates that surpassing this level could trigger the liquidation of cumulative futures short positions worth $433 million across all exchanges. Whether Ethereum can maintain this momentum remains to be seen, but the indicators are promising.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-climbs-towards-new-heights" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Climbs Towards New Heights</a></h5>

Ethereum Climbs Towards New Heights

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