Ethereum Rises: ETH Remains Steady At Over $2,300 Amid Bull Market Expectations
10 Dezember 2023 - 4:10PM
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Recent patterns indicate that the impetus fueling Ethereum’s climb
is far from diminishing, and the price trajectory of the
cryptocurrency has shown resilience. Ethereum may not be as
advanced as some of its L1 competitors, but it stands out from the
crowd thanks to its large developer community, immense acceptance,
and crucial role in DeFi and other blockchain-based applications.
Related Reading: Cardano Rises $56% To Dominate Weekend’s Top 10
Roster – Details Ethereum Remains Firm At $2,347 At the time of
writing, ETH was able to keep a strong footing at the $2,300 level,
trading at $2,347, nearly unchanged in the last 24 hours, but
tallied a 10% increase in the last seven days, data from Coingecko
shows. There is still a lot of room for profit in the current bull
market, even though Ethereum’s price spike hasn’t been as dramatic
as other altcoin’s. Size, liquidity, and being the leading platform
for smart contracts all contribute to Ethereum’s continued appeal
as an investment. Ethereum currently trading at $2,341.6 territory.
Chart: TradingView.com This means that ETH’s price performance
could be greatly enhanced by any further market increases.
Ethereum, according to technical research, is about to see growth,
and it is now testing key resistance levels. Both retail and
institutional investors would be interested if the price breaks out
above these levels, as it could indicate that the positive trend
would continue. 🐳 #Ethereum has scratched its way to $2,349, its
highest level since June, 2022. The long-term trend of top
non-exchange whale wallets getting richer, and top exchange whale
wallets having less sell-off power, is a promising combo for a
continued climb. https://t.co/h7ogbqPLWf pic.twitter.com/82plXmVn02
— Santiment (@santimentfeed) December 7, 2023 For the first time in
more than a year, Ethereum’s price has moved into a new range. The
accumulation patterns seen in several top addresses indicate that
this new range has created a chance for persistent price increases.
Ethereum’s Growing Holdings And 2024 Roadmap The most popular
Ethereum addresses on exchanges and those outside of them have
shown clear patterns of accumulation in the last several months,
according to new data from Santiment. A large number of top
non-exchange addresses have been buying Ethereum at different
prices, which has caused their holding volume of ETH to rise
steadily and now surpass 54 million. At the same time, following
their most recent execution layer meeting on December 8, Ethereum
developers have laid out a detailed strategy for the network’s
future in 2024, including new suggestions, major upgrades, and
more. Related Reading: Ethereum Price Soars To Over $2,300 – Is
$3,000 Next? Meanwhile, Ethereum is predicted to significantly
outpace mega-cap tech stocks. After the Bitcoin miners’ payouts are
halved, investment firm VanEck thinks Ethereum will soar. In
the past, this has caused a fresh spike in the price of Bitcoin,
with the proceeds going into altcoins. Ethereum won’t surpass
Bitcoin, despite surpassing large stocks, and what “flippening”
rumors claim. It is still believed that Bitcoin will continue to
lead in market capitalization even though there is a chance that
ETH may gain value in daily transaction volume. (This site’s
content should not be construed as investment advice. Investing
involves risk. When you invest, your capital is subject to risk).
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