Category Archives: Ethereum
Ethereum On The Path To $15000 In 2024? Analyst Lark Davis Boosts ETH Confidence – CCN.com
ETH increased by 40% from mid-October and is revisiting its previous yearly high. Can it continue going up?
Crypto YouTuber Lark Davis has been making headlines, predicting a significant upswing for Ethereum in 2024. Davis notes that while Ethereum has been underperforming compared to its peers this year, its poised for a big move.
Davis also forecasts a potential rise in Ethereums value to around $15,000 per coin during the 2024-2025 bull cycle, assuming gains similar to or slightly less than the previous cycle.
His prediction is based on a hypothetical 200% increase from Ethereums previous high of about $4,880 in November 2021. For current buyers, this could mean a 500-600% gain, which Davis considers a relatively low-risk bet in the crypto world. He emphasizes Ethereums strong fundamentals despite recent disinterest from the crypto community.
So, is he right to think so?
After reaching its all-time high of $4,820, the price of ETH fell by 81%, measured to its lowest point of $880 in this bear cycle made on June 18, 2022. It started a recovery and was mostly trending upward in 2023, resulting in a high of $2,400 on December 9.
Ethereum didnt go any lower, contrary to the general market trend, as we saw lower prices for most of the cryptos in November and December of 2022 before they started their significant recoveries.
ETH has performed worse than the general market since the start of 2023, but measuring from the June 18 low, it still outperformed many of its altcoin competitors, recovering 171%.
It formed an ascending triangle, which could be a leading diagonal as the first sub-wave of the larger five-wave impulse in the starting bull market. We are waiting for its wave 2 the first bull market correction that can push the price back to the $1,600 area.
That would be similar to the horizontal structure seen in the last pre-bull market consolidation from December 2018 until December 2019 and mark the end of the accumulation period.
After it ends, we look at the start of a stronger move for its wave 3, which will bring the price to its new all-time high of around $5,000. From the strength and the price this move reaches, we could evaluate the possibility of ETH going to $15,000 at its peak in the next bull run.
However, in conclusion, this price target isnt unrealistic and is only a 200% increase since its previous all-time high, making it highly possible.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the authors opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Ethereum On The Path To $15000 In 2024? Analyst Lark Davis Boosts ETH Confidence - CCN.com
Ethereum (ETH) Metrics Hints Readiness for Huge Gains – CoinGape
Ethereum (ETH) may be experiencing a major drawdown at the moment, however, on-chain data points to a potential run in price in the short to mid-term.
According to on-chain market analyst, Ali Martinez, Ethereum currently has no significant barrier ahead of it judging by the In and Out of the Money Around Price indicator from crypto analytics platform IntoTheBlock.
This data shows that a total of 7.82 million addresses or 65.4% of the total wallets in the network are in the money, or profitable at the moment. This is compared with the 4.13 million addresses or 34.5% that are out of the money or in losses. Ethereum holders that are at break-even points or At The Money are just approximately 12,430 or 0.10% of the total wallets in the network.
To Martinez, since there are no supply barriers in sight, Ethereum could ultimately soar as high as $2,700 in the short term, a level beyond the $2,500 conservative projection. Should this feat be achieved, Ethereum would be retesting a price level last seen in early May 2022.
This price call, though ambitious, is a big shift from current reality. At the time of writing, Ethereum was trading for $2,310.95, up by 0.28% in the past 24 hours as it tries to wriggle away from the mild losses accrued as the new year unfolds. Over the past week, Ethereum has still maintained a mildly bullish outlook, having surged by 1.12%.
Ethereum is facing an existential threat from some of the key rivals that surround it including Solana (SOL), XRP Ledger, Avalanche (AVAX), and Cardano (ADA) to mention a few.
While the growth of Ethereum has been relatively poor compared to these alternatives, Solana has expanded its influence over the former with the visible flippening happening to DEX volumes and other core areas.
In addition, Solana has recorded a more bullish price action when compared to the past year as SOL jumped as high as 989% while Ethereum has only managed to print 94.16% over the past year. Other chains like Cardano and the XRPL are also innovating in a way that proves they are fully ready to evolve in the coming months.
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Ethereum (ETH) Metrics Hints Readiness for Huge Gains - CoinGape
Ethereum Jumps, But the Real Winners Are Optimism, Arbitrum, and Polygon – Decrypt
Of the top 20 biggest digital coins and tokens, Ethereum (ETH) is doing wellit's up over 6.5% in 24 hours to a current price of $2,351, according to CoinGecko.
But that's nothing compared to the projects aimed at scaling the network.
Optimism (OP), the token behind the protocol which "rolls up" ETH transactions to speed up the major blockchain, is up 30% in the past day. It's currently trading hands for $4.11.
And Arbitrum (ARB), which also cuts Ethereum costs and fees, is up by over 16% in 24 hours, coming in priced at $1.50.
Meanwhile MATIC, the 13th biggest digital currency by market cap which runs on Polygon, is up 12% over the day. Its price currently stands at little over a dollar at $1.05.
Ethereum scalers speed things up on the notoriously expensive and costly blockchain by settling them on a layer-2 network or sidechain before reporting back to Ethereum. The idea is that developers can build things with ease until Ethereum's congestion issues are potentially sorted through future upgrades.
Such projects have received renewed interest this year as those wanting to speed up Ethereum have worked hard on building solutions to its slow network.
The boom in such projects' prices comes at a time when major Ethereum-competitor Solana (SOL) has been on a tremendous run.
Though SOL is up less than 2% today following recent spikes, over the past three months it has surged by over 440%, having made a comeback through November and December. It's now trading above $108 and is by far the biggest gainer among the largest cryptocurrencies over a 90-day period.
Elsewhere, Bitcoin (BTC), the biggest digital asset by market cap, is up more than 2% and trading at $43,067.
But major Bitcoin spinoffs are doing well: Bitcoin SV (BSC) is up nearly 43% in the past daypriced at $68.68and Bitcoin Cash (BCH) is currently priced at $250.51. That's an 11% bump in 24 hours.
The entire crypto industry's market cap today is $1.76 trillion, a 4.2% jump over the past 24 hours.
Edited by Andrew Hayward
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Ethereum Jumps, But the Real Winners Are Optimism, Arbitrum, and Polygon - Decrypt
Vitalik Buterin Lays Out the Challenges Ethereum Faces in 2024 – BeInCrypto
In a recent interview, Vitalik Buterin, the co-founder of Ethereum, articulated the challenges and the evolving vision of Ethereum, juxtaposing it against the aspirations of Solana Labs co-founder Anatoly Yakovenko. Buterin, reflecting on the dual role of cryptocurrency in resisting centralized powers and fostering new democratic models, pointed out the playful nature of Ethereum.
Despite the heavy implications of blockchain in areas like democracy, Buterin quipped, In Ethereum, the worst thing that happens is people lose money.
Buterins concerns center around the need for protocol upgrades in Ethereum. Particularly those of a technical nature, which he believes are usually left to the core developers. He differentiated these from economic upgrades, such as the shift from Proof of Work to Proof of Stake, which have wider implications and require broader consensus.
Protocol changes where the core developers themselves dont know if the community is going to be willing to go for a particular proposal is a very real concern.Within Ethereum, a lot of people sometimes think that core developers are kind of dictators and they have this agenda, but the reality is often the opposite, Buterin emphasized.
2023 marked a significant year for Ethereum, with rollups enhancing scalability and security. According to Buterin, these technological advancements could potentially allow up to 100,000 transactions per second. However, he cautioned about rollups complexity and potential vulnerabilities, underscoring the importance of ensuring their safety.
Security, a crucial aspect of Ethereums ecosystem, is addressed through innovations like light clients and account abstraction. Moreover, Buterin emphasized the importance of these developments in enhancing wallet security, multi-signature systems, and quantum-proof technologies.
Buterins vision for Ethereum in 2024 is optimistic, foreseeing advancements in scalability, user experience, and security. He anticipates significant progress in rollup technology and the implementation of EIP-4844, which would expand Ethereums data capacity.
In a blog post, Buterin reminisced about the early days of crypto and Ethereums role in fostering a decentralized internet. He lamented the shift in focus since 2017, with high transaction fees skewing blockchain usage towards financial motives, overshadowing Ethereums foundational ideals.
These visions have faded somewhat into the background. Few talk about consumer crypto payments, the only non-financial application that is actually being used at a large scale on-chain is ENS, and there is a large ideological rift where significant parts of the non-blockchain decentralization community see the crypto world as a distraction, and not as a kindred spirit and a powerful ally, Buterin highlighted.
Still, Buterin remains hopeful, with core scaling solutions and privacy enhancements aligning Ethereum with its original values.
In response to Buterins insights, Anatoly Yakovenko, co-founder of Solana Labs, shared his ambitious goals for Solana. Yakovenko envisions Solana as a high-performance execution engine, prioritizing speed and efficiency.
He aims to make Solana the best in class at synchronizing states at lightning speeds, complementing Ethereums role as a robust settlement layer.
Make Solana even faster. A world where Ethereum succeeds as a cockroach settlement layer needs a high-performance execution engine that is best in class at synchronizing state at the speed of light, Yakovenko said.
Read more: Solana vs. Ethereum: An Ultimate Comparison
Yakovenkos focus is on performance optimization, striving to establish Solana as a leader in blockchain technology. His vision embodies a future where Solana and Ethereum coexist, each excelling in their respective domains of speed and decentralization.
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Vitalik Buterin Lays Out the Challenges Ethereum Faces in 2024 - BeInCrypto
Ethereum Layer-2 Transactions Skyrocket 330% In 2023, ARB And OP Take The Lead – CoinGape
The Ethereum Layer 2 transactions skyrocketed by over 330% in 2023 compared to the last year. In recent months, Ethereums scaling solutions have experienced a notable uptick in interest, marked by the frequent introduction of new Layer 2s (L2s).
One of the latest players in this dynamic landscape is Coinbases Base L2, which gripped the attention of crypto enthusiasts. While Base had a significant share in these transactions, Arbitrum (ARB) and Optimism (OP) emerged as the largest contributors.
According to IntoTheBlock analytics, the Ethereum L2 ecosystem recorded a total of 583.53 million transactions in 2023. This suggests a staggering increase of 332.08% from 2022s figure of 135.05 million. The largest contribution in the 2023 transactions was made by Arbitrum which accounted for a 64.01% share.
On the other hand, Optimism and Base held a share of 22.22% and 13.77% share, respectively. Furthermore, its worth noting that the 2023 Ethereum L2 transaction data indicates an unprecedented growth from 2021. Since the Ethereum Layer 2 ecosystem was fairly new in 2021, the number of transactions was recorded to be 6.24 million, which indicates a whopping increase of 9,251% since then.
Also Read: Ethereum Price: Analyst Predicts 22% Surge In Ethereum (ETH) Price Sparking Market Optimism
Furthermore, in a recent post on X, IntoTheBlock highlighted that the weekly transactions since 2021 have increased by 90 times. The weekly transactions hit a high of 18 million in 2023 while in 2021, it was less than a million.
Owing to the growing popularity of the Ethereum Layer 2 ecosystem, the ARB and OP prices have gained significantly lately. In the past seven days, the ARB price locked in profits of over 8% while OP surged by 13%. In addition, the ARB crypto soared by more than 43% in the past month whereas OP skyrocketed by 117%.
However, at the time of writing, both these digital assets saw a significant drop in value due to the ongoing bearish trend of the market. At press time, the ARB price was recorded at $1.45, plunging by 5.56%. The ARB market cap stood at $1.84 billion, down by 5.72%. Moreover, the 24-hour trade volume slumped by 23.54% to $617.02 million.
Whilst, the OP crypto price dipped by 2.41% to $3.65. The cryptos market cap was recorded at $3.32 billion, marking a decline of 2.43%. However, the 24-hour trade volume registered a significant increase of 11.73% to 589.94 million.
Also Read: Optimism And Immutable Price Rally Continues With Monthly Gains Of Over 75%
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Ethereum Layer-2 Transactions Skyrocket 330% In 2023, ARB And OP Take The Lead - CoinGape
Forget XRP, This Unstoppable Crypto Is Now on Pace to Topple Ethereum and Become the Next Trillion-Dollar Asset – The Motley Fool
Make no mistake about it, Solana (SOL -3.23%) is ending the year with a bang. Up more than 900% in 2023, Solana recently passed XRP (XRP -1.03%) to become the fifth-most valuable cryptocurrency in the world. Solana now has a $43 billion market cap, and appears to be growing much faster than anyone could have predicted a year ago.
So just how much higher can Solana go? There's now a case to be made that Solana is on pace to pass Ethereum (ETH -0.36%) to become the second-most valuable cryptocurrency, trailing only Bitcoin (BTC -0.15%). That would represent a huge paradigm shift in the crypto world, given that Ethereum has historically played the role of "digital silver" to Bitcoin's "digital gold." Yet there are already signs that this paradigm shift is underway. Let's take a closer look.
The first evidence of this potential paradigm shift comes from the world of non-fungible tokens (NFTs), an area where Ethereum has traditionally dominated. The two most famous NFT collections -- the Bored Ape Yacht Club and the CryptoPunks -- are found on the Ethereum blockchain. Historically, they have been the most popular collections for NFT trading and have been reliable benchmarks for how the overall NFT market is performing.
Image source: Getty Images.
Yet they are no longer the market leaders. The last time I checked, a frog-themed NFT collection for the Solana blockchain had passed the Bored Ape Yacht Club in terms of 24-hour sales volume. And other Solana NFT collections are performing well over longer seven-day and 30-day windows. In fact, according to CryptoSlam data, Solana is nearly tied with Ethereum in terms of 30-day NFT sales volume.
Much the same story is true in the world of decentralized finance (DeFi), where Solana appears to be narrowing the gap. This is also an area where Ethereum has historically dominated. But at the end of December, Solana passed Ethereum in terms of DeFi for the first time ever.
Over both a seven-day and 24-hour period, decentralized exchanges on the Solana blockchain saw more trading volume than decentralized exchanges on the Ethereum blockchain. This is particularly striking, given that Solana has never made DeFi a core priority. Granted, much of this volume appears to be coming from the buying and selling of Solana meme coins, but it's still interesting to note.
Moreover, institutional investors appear to be lining up behind Solana as well. According to CoinShares, which tracks institutional money flows out of various cryptos, the pattern throughout 2023 has been the influx of new money into Solana. At the same time, these large institutional investors appear to be scaling back their exposure to Ethereum.
As a signal of this institutional buy-in, Cathie Wood of Ark Invest recently appeared on CNBC talking up the merits of Solana vis-a-vis Ethereum. Simply stated, Solana is a faster, more cost-effective version of Ethereum, and so it only makes sense that it should be gaining market share in key areas. Shouldn't the best technology win? If that's the case, then the valuation of Solana could soar.
Although Solana does appears to be gaining ground on Ethereum, a huge chasm in market cap still separates them. While Solana has a market cap of $43 billion, Ethereum has a market cap of more than $280 billion. For Solana to pass Ethereum in market cap, something extraordinary needs to happen, beyond just the capture of a few points of market share in the world of NFTs or DeFi.
And investment firm VanEck seems to have the answer. That "something extraordinary" is the launch of a killer app for the Solana blockchain that is capable of onboarding 100 million users. That number might sound preposterous, but keep in mind it only took ChatGPT two months to acquire that many users this year.
If Solana finds that killer app, says VanEck, its future price could skyrocket by more than 10,000%. Assuming that Solana continues to gain share at the expense of Ethereum in key market niches, VanEck projects that the price of Solana could approach $3,200 by 2030 compared with today's price of about $100.
If you multiply that price of $3,200 by Solana's current circulating coin supply of about 429 million, that gives you a figure of $1.4 trillion as a projected market cap. So a valuation of more than $1 trillion is certainly within grasp for Solana. That's the ultimate bull case scenario, of course, but it's still interesting to consider.
If you are thinking about investing in Solana, keep a close eye on metrics that show that Solana is indeed narrowing the gap with Ethereum. Tracking the sales numbers of digital frogs or digital apes might sound silly, but data like this could signal whether a real paradigm shift is underway. Several years from now, analysts might be talking about Solana as the next trillion-dollar asset.
Dominic Basulto has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Solana, and XRP. The Motley Fool has a disclosure policy.
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Ethereum price eyes $2,500 mark as Solana market takes a breather – FXStreet
Ethereum (ETH) price looks poised for a shine after a prolonged contention against its peer in the Layer 1 space, Solana (SOL). This brings to mind previous reports where Solana founder Anatoly Yakovenko said he envisions a future whereSOLand Ether co-exist, urging that the whole narrative of one ecosystem kills the other be binned.
Also Read: Crypto hack:Ethereum, Solana DeFi trading platform Thunder exploited for $239,000
Ethereum (ETH) price has spent the better part of December consolidating between the critical support at $ 2,147 and the $2,380 resistance level. Based on technicals such as the Relative Strength Index (RSI), the largest cryptocurrency may be poised to shine, at least for the short term.
Meanwhile, the SOL market is exhibiting weakness, as the technical indicators hint at a possible dip in the Solana price. It comes after a prolonged period of SOL being massively overbought, indicated by the presence of the RSI above the 70 level since October 18, when the markets turned bullish. This preceded a correction.
SOL/USDT 1-day chart, ETH/USDT 1-day chart
After Solana prices epic surge across the fourth quarter, the SOL market is taking a breather, with capital flowing into Ether. With this, Ethereum price looks ready to shine at the expense of Solana.
The RSI is northbound, suggesting rising momentum. The Awesome Oscillators (AO) indicator remains in the positive territory, adding credence to the bullish thesis. Increased buying pressure above current levels, therefore, could see Ethereum price rise, potentially flipping the $2,380 resistance level to a support before testing the $2,403 range high.
In a highly bullish case, the gains could extend for Ethereum price to tag the forecasted $2,500 psychological level, in a move that would constitute a 7% climb above current levels.
ETH/USDT 1-day chart
On the other hand, if the $2,380 roadblock holds as resistance, the ensuing rejection could see Ethereum price lose the critical support at $2,147, below which the bullish outlook would be invalidated. In the dire case, Ether market value could descend to test the supply barrier that now acts as a bullish breaker between $2,049 and $2,107.
A break and close below the midline at $2,075 would confirm the continuation of the downtrend, with Ethereum price likely to spiral towards the $2,049 support, levels last tested in November.
Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether (ETH) cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization. The Ethereum network is tailored for scalability, programmability, security, and decentralization, attributes that make it popular among developers.
Ethereum uses decentralized blockchain technology, where developers can build and deploy applications that are independent of the central authority. To make this easier, the network has a programming language in place, which helps users create self-executing smart contracts. A smart contract is basically a code that can be verified and allows inter-user transactions.
Staking is a process where investors grow their portfolios by locking their assets for a specified duration instead of selling them. It is used by most blockchains, especially the ones that employ Proof-of-Stake (PoS) mechanism, with users earning rewards as an incentive for committing their tokens. For most long-term cryptocurrency holders, staking is a strategy to make passive income from your assets, putting them to work in exchange for reward generation.
Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) mechanism in an event christened The Merge. The transformation came as the network wanted to achieve more security, cut down on energy consumption by 99.95%, and execute new scaling solutions with a possible threshold of 100,000 transactions per second. With PoS, there are less entry barriers for miners considering the reduced energy demands.
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Ethereum price eyes $2,500 mark as Solana market takes a breather - FXStreet
Avalanche (AVAX) To Go Ape? Ethereum-Rival Aims To Promote Memecoins With New Culture Catalyst Initiative – The Daily Hodl
One rival of smart contract platform Ethereum (ETH) is shifting its culture to focus on promoting tokens it says are inspired by internet culture and humor.
In a new announcement, layer-1 blockchain Avalanche (AVAX) says that it intends to start promoting its Culture Catalyst initiative, which launched last year and aims to support memecoins, gas tokens, non-fungible tokens (NFTs), stablecoins, Real World Assets (RWA), and governance coins.
Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains.
This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity, culture, and lifestyle that blockchain enables.
Avalanche says it plans on purchasing select AVAX-based meme assets to start a collection, and says it will be choosing the tokens based on a combination of factors, including but not limited to its number of holders, its liquidity thresholds, and overall social sentiment.
The Avalanche Foundation intends to start using Culture Catalyst to recognize and encourage the culture and fun symbolized by meme coins by purchasing select Avalanche-based memecoins to create a collection.
This move complements the Avalanche Foundations ongoing engagement across the Avalanche ecosystem, including NFTs, RWAs, and other types of crypto assets, broadening its portfolio to embrace a more complete spectrum of possibilities.
The initiative was originally created in March 2022 as a collaboration between Avalanche and OP3N, an artificial intelligence (AI)-powered chat application.
AVAX is trading for $40.13 at time of writing, a fractional decrease during the last 24 hours.
Featured Image: Shutterstock/Ellerslie/Dario Lo Presti
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Ethereum proof-of-work core development team disbands – Cointelegraph
Developers of the Ethereum proof-of-work (PoW) hard fork have decided to disband.
According to a Dec. 19 announcement, the core EthereumPoW development team will be dissolved to achieve full autonomy. Thereafter, the EthereumPoW blockchain will continue to run with PoW as the main consensus for the chain and decentralized governance to become a deity-less public chain.
Meanwhile, existing EthereumPoW servers will be transferred to OneDAO, a decentralized protocol on the Harmony network, for transitional maintenance until long-term ecological partners are identified. Jadal Page, core developer of Ethereum PoW, wrote:
The EthereumPoW blockchain was hard forked from the Ethereum mainnet just prior to the completion of the Ethereum Merge upgrade in September 2022, which transferred the network from PoW to a proof-of-stake (PoS) consensus mechanism, thereby reducing mainnet energy usage by 99%.
Developers dissatisfied with the increased centralization of the new Ethereum PoS consensus, alongside miners upset over the loss of mining revenue, created EthereumPoW to preserve the original Ethereum.
However, on Sept. 20, exchange-traded fund operator Grayscale Investments pulled the plug on supporting post-Merge Ethereum PoW tokens (ETHW). In its decision, Grayscale pointed out that ETHW has yet to develop meaningful liquidity, while the products custodian doesnt support such tokens. As a result, the firms rights to buy and sell ETHW tokens for its clients could not be fulfilled.
Related:Ethereum community adopts ERC-3643 as standard for compliant asset tokenization
ETHW tokens reached an all-time high of $100 in August 2022, when they were first launched, but have now fallen to $2.59. Its total market capitalization stands at $279 million.
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Ethereum proof-of-work core development team disbands - Cointelegraph
"Ethereum’s Resistance Struggle Amid Bitcoin Surge and Solana’s Rise" – Geeks World Wide
In Wednesdays trading session, Ethereum faced resistance around the $2,250 and $2,300 levels, struggling to break through. Bitcoins surge above $43,600 raised concerns for Ethereum bulls. Meanwhile, Solana (SOL) revisited $84 for the first time since May 2022, indicating a continued upward trend and suggesting it could potentially outshine Ethereum in the future.
Ethereum encountered hurdles in its attempt to break the $2,250 resistance and find a foothold above that level. At the same time, Bitcoins price surge raised concerns among Ethereum bulls. Additionally, Solanas recent performance has led to speculation that it could outperform Ethereum in the near future.
According to the daily price chart, Ethereums recent low settled near $2,162, and it is currently consolidating above $2,200. On the hourly ETH/USD chart, a bullish trend line has formed, offering support around $2,180. However, Ethereum is currently trading above $2,200 but below the 100-hourly simple moving average.
Ethereum faces immediate resistance near $2,210, with crucial resistance levels at $2,250 and $2,280. A decisive move beyond $2,280 could lead to further gains and potentially push the price towards $2,350 and even $2,400. If sustained, Ethereum could test the $3,000 zone. Conversely, a failure to overcome the $2,250 resistance could trigger a downward spiral, with support levels at $2,170 and $2,120. Breaking below $2,120 may lead to further bearish movements and a potential revisit of the $2,000 support level.
In the altcoins market, Solana has emerged as a front-runner, outperforming notable altcoins such as Cardano and Ripples XRP. This has led experts to speculate that Solana could potentially outshine Ethereum in the near future, marking a significant development in the crypto market.
Ethereum faced resistance at the $2,250 level and struggled to find a footing above that price. Bitcoins surge and Solanas strong performance have raised concerns among Ethereum bulls and sparked speculation about the potential outperformance of Solana in the crypto market. Traders and investors will be closely watching for Ethereums ability to break through resistance levels and maintain its upward momentum.
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"Ethereum's Resistance Struggle Amid Bitcoin Surge and Solana's Rise" - Geeks World Wide