Ethereum

2024

when

April

<div class="coinjournal">
 <ul>
 <li dir="ltr">Ethereum (ETH) price hit $3,005 on Coinbase on Tuesday, rising to its highest level since April 2022.</li>
 <li>About 879,000 addresses were in a loss and could sell when prices break above this level.</li>
 <li dir="ltr">While ETH fell below the psychological level, analysts outline $3k as a “a relatively small obstacle”.</li>
 </ul>
 Ethereum (<a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>) <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> rose to the psychological level of $3,000 for the first time in nearly two years on Tuesday, February 20. The cryptocurrency saw its value jump from lows of $2,880 to touch $3,005 on Coinbase, and $3,003 on Binance.
 <h2 dir="ltr" id="eth-price-and-the-3k-hurdle">ETH price and the $3k hurdle</h2>
 Ethereum‘s upside, which comes amid a significant move of over 25% in the past two weeks, means several Ethereum addresses that were in the red managed to turn profitable.
 This in turn, suggests a potential retreat for the second-ranked crypto by market cap if these addresses decide to sell or break even. It could see ETH trade to support levels again, possibly below $2,900 before bouncing to target higher price levels.
 According to IntoTheBlock, the on-chain picture for <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a> at the $3k level indicates this should be a “relatively <a rel="noopener noreferrer nofollow" title="small" href="https://thebittimes.com/tag/small.html">small</a> obstacle” for bulls.
 While a look at on-chain data shows more than 16 million ETH addresses, or about 14.7% of the wallets, were still in a loss with prices below $3k, more than 83% are in profit. Going by this, the 879k addresses likely to turn profitable above $3k might not present a major hurdle. However, there may still be some struggle to break past $3,400.
 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 ETH is extremely close to breaking $3k. Here's what the onchain picture looks like👇 ➖In total, there are still over 16 million ETH addresses holding at a loss (~14.7%). ➖There are about 879k addresses that would become profitable as Ethereum breaks $3k. ➖These addresses have… pic.twitter.com/P4hby7NdJJ
 — IntoTheBlock (@intotheblock) February 20, 2024
 </blockquote>
 
 ETH traded to highs of $4,800 during the previous bull market and analysts have called for a break to above $5,000 in coming months. The potential approval of the first spot Ethereum exchange-traded fund (ETF) in the US and network developments amid the Dencun upgrade could be key catalysts.
 At the time of writing, <a rel="noopener noreferrer nofollow" title="ETH" href="https://thebittimes.com/tag/eth.html">ETH</a>/USD changed hands around $2,924 on Binance.
 <div class="fr-img-space-wrap"> <img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/20/35e63edc2a22bbf02ee47b0a8e2601c2.webp" style="width: 100%" class="fr-fic fr-dib" width="650" height="311">Ethereum price on the daily chart. Source:&nbsp;TradingView 
 &nbsp;
 </div>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/eth-price-outlook-analysts-say-3k-a-relatively-small-obstacle-tbt80315.html">https://thebittimes.com/eth-price-outlook-analysts-say-3k-a-relatively-small-obstacle-tbt80315.html</a>

ETH price outlook: Analysts say $3k “a relatively small obstacle”

Mục lục

TheBitTimes

Các bài viết khác được xuất bản trên 20 thg 2, 2024

Nottingham Building Society Accelerates Mortgage Process with MQube’s AI Technology

Shiba Inu’s Burn Rate Soars 3,400%: Potential Price Surge Ahead

Kangamoon (KANG) Sees a Surge In Activity, As Ethereum Classic (ETC) and Aptos (APT) Prices Stall

eTukTuk raises $1.2m in presale, analysts expect more gains

Gold ETFs down $2.4 billion in 2024 as BTC and this memecoin soak up liquidity

Bitcoin (BTC) Price Consolidation Boosts Kangamoon (KANG) As BTC Holders Pile In

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!