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 <p class="paragraph">While Bitcoin (BTC) has been taking the bulk of the attention in the ongoing crypto market rally, Ethereum (ETH) has been far from idle.&nbsp;</p>
 <p class="paragraph">Not only has it seen a major price increase through the previous months that has taken ETH to highs not seen since late 2021, but the development team has continued actively rolling out <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>s.</p>
 <p class="paragraph">The most recent of these, the Dencun <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>, went live on Wednesday, March 13, and is primarily aimed at bolstering the efficiency of the blockchain’s mechanisms for storing information with the ultimate goal of drastically reducing gas fees.</p>
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 <h2 class="wp-block-heading" id="h-can-eth-hit-5k-after-the-dencun-<a rel=" dofollow title="upgrade" href="https://thebittimes.com/tag/upgrade.html" rel="noopener noreferrer nofollow">upgrade"&gt;Can ETH hit $5k after the Dencun <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>?</h2>
 <p class="paragraph">While the Dencun <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a> has been highly anticipated, it is only the latest in the string of developments expected to help propel Ethereum to $5,000.&nbsp;</p>
 <p class="paragraph">The world’s second cryptocurrency is well-positioned to soon test a new all-time high both due to the technical improvement and the pending spot Ethereum exchange-traded fund (ETF) decision – with the chances of approval bolstered by the approval of spot BTC ETFs in January 2024 – according to Michaël van de Poppe, a prominent crypto trader and analyst.</p>
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    <p lang="en" dir="ltr">The next in line for a potential all-time high test is #Ethereum.<br><br>Why?<br>– Dencun <a rel="noopener noreferrer nofollow" title="upgrade" href="https://thebittimes.com/tag/upgrade.html">upgrade</a>.<br>– Potential Spot ETH ETF approval.<br><br>Crucial resistance is approaching, but the $BTC pair has barely moved. <br><br>We'll likely see more strength coming from this asset. pic.twitter.com/LyWh8ht9ow</p>— Michaël van de Poppe (@CryptoMichNL) March 6, 2024
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 <p class="paragraph">Still, despite resistance on ETH’s path toward $5,000 rapidly thinning, it will face a challenge in overcoming the area between $4,522 and $4,646 in which 600,000 addresses hold more than $1.6 million Ethereum, per the information shared by another crypto expert, Ali Martinez, on X.</p>
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    <p lang="en" dir="ltr">#Ethereum path to $5,000 looks increasingly clear, as resistance thins. The key hurdle? A supply zone at $4,522-$4,646, where 600,000 addresses hold 1.63 million $ETH. It's not a matter of if, but when! pic.twitter.com/LMvw3kjrEW</p>— Ali (@ali_charts) March 11, 2024
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 <h2 class="wp-block-heading" id="h-ethereum-price-chart">Ethereum price chart</h2>
 <p class="paragraph">While it remains to be seen whether Ethereum will soon reach $5,000, ETH has certainly been one of the major beneficiaries of the ongoing crypto market rally. In the last 52 weeks, Ether rose 136.93%, and it surged 73.92% since the start of 2024.</p>
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 <p class="paragraph">Ethereum’s more recent performance has also been positive and ETH is up 50.85% in the last 30 days, and the latest 24 hours of trading saw it, despite a massive whipsaw, stay in the green by 0.10%, and land at the press time price of $4,004.05.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-dencun-upgrade-goes-live-can-eth-hit-5k-tbt82447.html">https://thebittimes.com/ethereum-dencun-upgrade-goes-live-can-eth-hit-5k-tbt82447.html</a></p>

Ethereum Dencun upgrade goes live; Can ETH hit $5k?

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