Ethereum’s Price Surge: Will It Hit $4,000?
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Home > News
Published: 01/03/2024
-
Author: Leexim
Ethereum’s Price Surge: Will It Hit $4,000?
Ethereum has the potential to increase to $4,000, riding the overall bullish momentum in the entire crypto market.
Azcnews (1)
Ethereum has embarked on a remarkable price rally in February 2024, showcasing impressive performance by briefly crossing the $3,500 threshold before retracting to $3,423. Following an extended period of trading below $3,000, Ethereum has witnessed a significant upward surge this month, prompting discussions among investors about the possibility of reaching the $4,000 milestone.
A cursory analysis of Ethereum reveals its standing as the second-largest cryptocurrency by market value, trailing only Bitcoin, boasting a market capitalization of $418,718,997,656. Over the past 29 days, ETH has witnessed a noteworthy surge of over 55%, accompanied by a corresponding increase in trading volume.
The trading volume of ETH has experienced a 40% uptick in the last 24 hours, currently resting at $36,156,441,428 as of the latest update. The price of Ethereum has marked a 0.5% increase within the same timeframe, settling at $3,414.
Ethereum 1D Chart from TradingView
Ethereum 1D Chart from TradingView
In anticipation of Ethereum breaking the $3,000 level, a prediction that has now materialized, attention is now turning towards the next target of $4,000, a milestone seemingly within reach. Prominent bank Standard Chartered shares a similar price prediction, citing two compelling factors that bolster Ethereum’s likelihood of attaining this new target.
Delving into the bullish outlook for Ethereum, its current price is only 28% below the all-time high of $4,891.70, recorded on November 16, 2021. As Ethereum approaches this pinnacle, the prospect of surpassing it becomes increasingly plausible.
Related: Surge in Profitable Ethereum Transactions
The fear and greed index in the crypto market reflect extreme greed, signaling the potential for substantial price surges not only for ETH but also for various other cryptocurrencies.
A pivotal factor influencing Ethereum’s price trajectory is Bitcoin’s recent surge to $64,000, nearing its all-time high of $69,000. The upward momentum of BTC appears to exert a positive influence on the prices of alternative coins, including Ethereum. Bitcoin swiftly ascended from $50,000 to $65,000 in a matter of days, and Ethereum seems to be mirroring this upward trend.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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02/03/2024 at 5:31 pm
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Home > News
Published: 01/03/2024
-
Author: Leexim
Ethereum’s Price Surge: Will It Hit $4,000?
Ethereum has the potential to increase to $4,000, riding the overall bullish momentum in the entire crypto market.
Azcnews (1)
Ethereum has embarked on a remarkable price rally in February 2024, showcasing impressive performance by briefly crossing the $3,500 threshold before retracting to $3,423. Following an extended period of trading below $3,000, Ethereum has witnessed a significant upward surge this month, prompting discussions among investors about the possibility of reaching the $4,000 milestone.
A cursory analysis of Ethereum reveals its standing as the second-largest cryptocurrency by market value, trailing only Bitcoin, boasting a market capitalization of $418,718,997,656. Over the past 29 days, ETH has witnessed a noteworthy surge of over 55%, accompanied by a corresponding increase in trading volume.
The trading volume of ETH has experienced a 40% uptick in the last 24 hours, currently resting at $36,156,441,428 as of the latest update. The price of Ethereum has marked a 0.5% increase within the same timeframe, settling at $3,414.
Ethereum 1D Chart from TradingView
Ethereum 1D Chart from TradingView
In anticipation of Ethereum breaking the $3,000 level, a prediction that has now materialized, attention is now turning towards the next target of $4,000, a milestone seemingly within reach. Prominent bank Standard Chartered shares a similar price prediction, citing two compelling factors that bolster Ethereum’s likelihood of attaining this new target.
Delving into the bullish outlook for Ethereum, its current price is only 28% below the all-time high of $4,891.70, recorded on November 16, 2021. As Ethereum approaches this pinnacle, the prospect of surpassing it becomes increasingly plausible.
Related: Surge in Profitable Ethereum Transactions
The fear and greed index in the crypto market reflect extreme greed, signaling the potential for substantial price surges not only for ETH but also for various other cryptocurrencies.
A pivotal factor influencing Ethereum’s price trajectory is Bitcoin’s recent surge to $64,000, nearing its all-time high of $69,000. The upward momentum of BTC appears to exert a positive influence on the prices of alternative coins, including Ethereum. Bitcoin swiftly ascended from $50,000 to $65,000 in a matter of days, and Ethereum seems to be mirroring this upward trend.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
5.0/5
(3 votes)
Avatar of
Anonymous
02/03/2024 at 5:31 pm
Who can teach me this
Like Reply Share
Avatar of
Anonymous
02/03/2024 at 7:54 pm
What?
Like Reply Share
Leave a Reply
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Bitcoin Market Shows Over 20% Gap in Supply and Demand Dynamics
Current research reveals a 20% disparity in the Bitcoin market's supply and demand dynamics.
Memecoin
Altcoin | Editor Choice 02/03/2024
Memecoins Have Been Leading The Market For Several Days
Many major memecoins like Pepe or Bonk have consistently been on the top gainers list for the past few days.
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News | Altcoin | Editor Choice 02/03/2024
SynFutures Launches V3 on Layer-2 Blast
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Cryptocurrency Exchanges in Korea Surge Amidst Bitcoin Rally
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